What is the timeframe required for nonissuers to complete their workpapers after the report release date?

The timeframe for nonissuers to complete their workpapers after the report release date is indeed 60 days. This is guided by the auditing standards that require auditors to retain documentation necessary to support the audit conclusions and findings. Completing the workpapers within this timeframe ensures that auditors meet the regulatory requirement for proper documentation while also allowing for adequate review and oversight processes.

This 60-day period is designed to provide auditors the necessary time to finalize all supporting materials after the completion of the audit report, ensuring that all relevant information is captured and that the report is accurate and complete. Retaining documentation is crucial for potential future reviews, investigations, or regulatory inquiries, emphasizing the importance of a structured and timely approach to audit documentation.

Options suggesting shorter or longer periods like 30 days, 90 days, or 120 days do not align with the standards set for nonissuers, which clarifies that the correct timeframe is specifically set at 60 days. This uniformity helps establish a clear standard across the industry.