Due Diligence and Ongoing Monitoring

Hello,

I am wondering what timing people use for completing their annual reviews and reports to the Baord? Ex - we start our annual reviews in 4Q but it reflects typically outdated financials (YE23 for example if we start in 4Q24).  We are considering changing the timing to reflect more up to date financials.  I was curious what process other institutions use in terms of reviewing and reporting?

Thanks.