A2 - Other reports - Letters to Underwriters Flashcards
1
Q
What is typically covered in a comfort letter (Letter to Underwriter)
A
An opinion (positive assurance) as to whether the audited financial statements comply in form with the accounting requirements of the SEC.
2
Q
When an accountant issues to an underwriter a comfort letter containing comments on data that have NOT been audited, the underwriter most likely will receive:
A
Negative assurance on capsule information.
