75 paragraphs found
Other financial information appearing in the offering document does not include financial information that is covered by the auditor’s report on the financial statements. (Ref: Para. 36 …
An example of a change in the financial reporting framework may be as a result of the entity changing the selection or application of accounting policies applied to the change period financial information. (Ref: Para. 48 …
When an auditor’s report on audited financial statements or a review report on reviewed financial statements in the offering document includes a modified opinion or conclusion, the auditor shall consider the effect on the comfort letter regarding …
If the auditor is required to comment on pro forma historical financial information, the auditor shall not provide such a comment unless the auditor has an appropriate level of knowledge of the accounting and financial reporting practices of the entity. …
If agreed to under the terms of the engagement, the auditor shall perform the procedures specified by the requesting parties on financial information during the change period, in order to provide an auditor’s statement on such financial information in the …
The auditor shall comment in the comfort letter if as a result of the procedures performed, the auditor identifies there has been a change in the application of the applicable financial reporting framework to the change period financial information such …
If the agreed terms of engagement require the auditor to issue a letter subsequent to the comfort letter in order to report procedures performed on financial information for a new change period, the auditor shall perform the new change period procedures …
A legal counsel’s letter indicating that a requesting party may be deemed to be an underwriter or has a liability substantially equivalent to that of an underwriter under the applicable law would ordinarily not meet this requirement. (Ref: Para. 14(e)(v) …
What is substantially consistent may vary from situation to situation and may not be the same as that done in a registered offering of the same securities for the same issuer. Whether the procedures being, or to be, followed will be substantially …
A factor in considering whether to accept the engagement is whether the period between the cut-off date and the date of the comfort letter provides sufficient time to allow the auditor to perform the procedures and prepare the comfort letter. (Ref: Para. …