Letter of comment

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Letter of comment

A communication to the firm from the SEC that suggests changes to its registration statement.

Letter of Comment

A letter from the SEC to a company that is in the process of registering a new issue, especially for the first time. The letter suggests changes to the company's registration statement to ensure that it is as accurate and transparent as possible. The letter of comment is not a cause for concern; that is, it is not an indication that the SEC believes that the company has done something illegal. Rather, it is a way to ensure that the new issue occurs as smoothly as possible for all involved.
References in periodicals archive ?
* Providing letters of comment to the Commission on Dental Accreditation (CODA) regarding Dental Therapy Education Program Standards;
* Providing letters of comment to Georgia and Ohio on legislation affecting the dental hygiene profession; and
Several First Nations took part in public hearings on the project as interveners, while more submitted letters of comment to the regulator, arguing that a spill from the aging pipeline could adversely affect their rights.
The report to the planning committee says there have been 78 letters received offering no objection, 10 letters of comment and 203 letters of objection.
While the AICPA has issued an exposure draft that would affect the peer review reports and letters of comment, as well as some other aspects of the peer review process, the basic rules are the same.
Presently letters of comment are not prepared; but the reviewed firm prepares a letter of response setting forth the corrective action it intends to take whenever the off-site review report is other than unqualified.
For both on-site and off-site reviews, the reviewers' reports, letters of comment, workpapers, and the firms' letters of response are subject to a technical review by the administering entity--usually a participating state society of CPAs--and a report acceptance body, a group of CPAs formed by the administering entity.
* FIRMS WILL NOTICE SIGNIFICANT CHANGES in their peer review reports and letters of comments. The revisions will enable users of peer review reports to better understand the peer review process and the matters identified during such reviews.
Firms will notice significant changes in their peer review reports and letters of comments designed to enable users to better understand the peer review process and any matters identified during reviews.
The first provides the public online access to selected peer review information, such as the peer review report, letters of comments and response.
The GAO also views transparency as important as evidenced by its requirement to provide peer review reports and letters of comments to potential clients.
Requires Review of Letters of Comments. A reviewed firm is now required to submit its letter of response to a team captain or reviewer for review and comment prior to submission of the document to the CPA state society administering the peer review.