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Flashcards in comfort letters Deck (2)
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1

comfort letter includes

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

comfort letters

contributes to due diligence defense for underwriters under section 11 of 1933 sec act