Backdated peer review reports: common practice or red flag?
Has anyone encountered backdated peer review reports?
I understand that audit reports are subject to strict dating rules under AICPA standards, and audit documentation has specific completion and modification requirements after the report release date.
Peer review seems to be different. Based on my understanding, those audit-report dating rules do not apply in the same way to peer review reports. I also spoke with the AICPA hotline and came away with the understanding that backdating a peer review report may be acceptable in some circumstances.
That seems odd to me because the report date can affect how a reader understands when the review was completed, when the reviewed firm received the report, and what information existed at the time.
For anyone who has dealt with peer review reports: is this common? Do you see it as normal administrative dating, or does it raise concerns depending on the facts?