Updated audit documentation regs effective Aug. 1.

California auditors will no longer have to scramble to complete their audit documentation prior to issuing an audit report. New Regs. 68.3 and 68.4 (pp. 15-16, CBA Regulations) took effect Aug. 1 and correct differences between the California Board of Accountancy's regulations on audit documentation and national audit documentation standards.

The differences concerned when and how CPAs could delete documentation from the audit file after the report has been released and created confusion and potential consumer harm, since audit firms were essentially forced to complete all deletions from the file on the day the report was released.

Download the regs at www.dca.ca.gov/cba/regs/regs9.pdf.

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