Printer Friendly
Dictionary, Encyclopedia and Thesaurus - The Free Dictionary
3,898,174,229 visitors served.
forum Join the Word of the Day Mailing List For webmasters
?
Dictionary/
thesaurus
Medical
dictionary
Legal
dictionary
Financial
dictionary
Acronyms
 
Idioms
Encyclopedia
Wikipedia
encyclopedia
?

Comfort Letter
(redirected from Comfort Letters)

    Also found in: Wikipedia 0.01 sec.
Comfort letter
A letter from an independent auditor included in a preliminary prospectus stating that, while a full audit has not been undertaken, the auditor has done a 'review' sufficient to assure that financial statement information in the preliminary prospectus is correctly prepared to the best of the auditor's knowledge. The auditor in effect states that, had a full audit been done, they are comfortable that the audited financial statements would not be materially different from the ones presented in the preliminary prospectus.
Comfort Letter
Before or during a new issue, a statement by an auditor stating that, while a full audit has not been done, a review of the issue's prospectus has revealed nothing inaccurate or misleading. The comfort letter also states that the auditor is confident that a full audit would not uncover anything unusual that would negatively affect the issue.
comfort letter
A statement issued by a Certified Public Accountant declaring no indication of false or misleading information in the financial statements being used in connection with a securities offering.
Want to thank TFD for its existence? Tell a friend about us, add a link to this page, add the site to iGoogle, or visit the webmaster's page for free fun content.
?Page tools
Printer friendly
Cite / link 		Feedback
Add definition
Mentioned in?  References in periodicals archive?   Financial browser?   Full browser?
 
Purpose of Comfort Letters There are various reasons why a client may request a comfort letter.
Concerns about CPA letters to third parties by Holub, Steven F.; Rubin, Jane T.; Black, Barton / The Tax Adviser
While the audit of the historical financial statements remains the most visible service in this process provided by an accounting firm, CPAs also play an active role in the review of filing and disclosure documents, issuance of comfort letters to underwriters, future compliance with Sarbanes-Oxley Sec.
Taking it public: the CPA's various roles in the IPO process by Williams, Don / California CPA
These requirements heighten the scrutiny applied during Rule 144A due diligence and reflect a more formalized process than that associated with typical private placements, in which comfort letters and disclosure letters are generally not rendered.
The winding road to reward: Rule 144A securities offerings can be a ... by Rabinowitz, Daniel A. / Best's Review
 
 
 
Financial Dictionary
?

Terms of Use | Privacy policy | Feedback | Advertise with Us | Copyright © 2012 Farlex, Inc.
Disclaimer
All content on this website, including dictionary, thesaurus, literature, geography, and other reference data is for informational purposes only. This information should not be considered complete, up to date, and is not intended to be used in place of a visit, consultation, or advice of a legal, medical, or any other professional.