comfort letters Flashcards
1
Q
comfort letter includes
A
introductory paragraph
positive assurance-wether audited financial statements comply as to sec requirements
negative assurance-whether unaudited condensed or capsule interim info complies as to form with sec requirements
and
whether modifications are needed for the unaudited condensed consolidated f/s
and
any changes in amounts in capital stock, lt debt, or decrease in other specified f/s elements
2
Q
comfort letters
A
contributes to due diligence defense for underwriters under section 11 of 1933 sec act
