Formula erroring out

[aresquare1]

I have a file with a cell with a formula referencing a cell in another workbook. That other workbook is not open but is in the referenced folder and has the referenced name as follows
'C:\Users\Public\Prospect Pricing Tables.xlsx'!Last_Update The file with the formula is in a file on a server and the referenced file is on a local C drive.

Why does my formula return #REF! ?

I am comparing two dates and as long as the referenced file is in the right folder with the right file name and actually has a date in the cell with named range shouldn't it just give me the date differences?

Thanks for your help.
RR

[shg]

How would the formula know to look on your C drive (if it were even accessible from the server) rather than the server's C drive?

[aresquare1]

Oh, so if the referenced file were on the same drive and the referencing formula pointed to that location on the same drive, it wouldn't return a #REF! ? Correct?

[shg]

What happened when you tried it?