A. A written request for an extension of time to file the required reports and the management letter shall be received by the Commission no later than 30 days before the original due date as noted in Regulation .04 of this chapter.
B. A request for a reasonable extension of time may be granted by the Secretary if:
(1) Detailed reasons are stated that indicate why the reporting deadline cannot be met;
(2) The request indicates the estimated date the audit will be completed and the report filed; and
(3) The request is signed by the president of the college.