FASB Assurance - Letters for Underwriters and Certain other Requesting Parties 1.5 Credits
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Sep 11, 2024 | 03:00 PM
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FASB assurance letters, often requested by underwriters and other parties involved in financial transactions, play a critical role in ensuring the accuracy and reliability of financial statements.
This CPE Course addresses the auditor's responsibilities when issuing letters (commonly referred to as comfort letters) to requesting parties regarding a non-issuer entity's financial statements included in registration statements filed with the Securities and Exchange Commission (SEC) under the Securities Act of 1933 or included in other securities offerings.
Auditors' services include audits or reviews of financial statements included in securities offerings. In connection with these offerings, auditors are often requested to issue comfort letters to certain requesting parties. However, generally accepted auditing standards (GAAS) do not require the auditor to take an engagement to issue a comfort letter.
An auditor issuing a comfort letter is one of several procedures that may be used to establish that an underwriter has conducted a reasonable investigation. Consequently, underwriters may request auditors to assist them in developing a record of reasonable investigation.
Major Topics Covered:
Join this CPE Course, which outlines an easy-to-understand step-by-step procedure for meeting the auditor’s responsibilities when issuing letters (commonly referred to as comfort letters) to requesting parties regarding a non-issuer entity's financial statements included in registration statements.
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Mike Morley is a Certified Public Accountant and a recognized authority in the field of finance with more than 25 years experience in finance, including SOX and IFRS implementation.
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“Sarbanes-Oxley Simplified” which is an easy-to-read explanation of the requirements of the U.S. legislation that makes CEO's & CFO's personally responsible for the accuracy of their company's financial statements.
“Financial Statement Analysis Simplified” which translates the accounting language of financial statements into clear, easy-to-understand terms that anyone who needs to make well-informed financial decisions quickly will appreciate.
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We issue instant credit certificates, ensuring they are valid for presentation to governing bodies. Typically, we report IRS, CTEC, CFP, IDFP, IWI, VBOA Ethics credits within 7 days – the fastest in the industry.
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