44AU-C 920 Letters for Underwriters and Certain Other Requesting Parties


Definitions of Terms

Objectives of AU-C Section 920


Requirements: General

Engagement Acceptance

Representation Letter

Reports to Other Parties

Communications with Underwriter

Draft Comfort Letter

Auditor of the Group Financial Statements

Shelf Registration

Issuance of Letters or Reports under Other Standards

Requirements: Format and Contents of Comfort

Dating of Comfort Letter


Introductory Paragraph


Compliance as to Form with SEC Requirements

Requirements: Commenting-in-a-Comfort-Letter on Information Other Than Audited Financial Statements


Knowledge of Internal Control

Unaudited Interim Financial Information

Capsule Financial Information

Pro Forma Financial Information

Financial Forecasts

Subsequent Changes

Tables, Statistics, and Other Financial Information

Requirements: Other Matters

Concluding Paragraph

Disclosure of Subsequently Discovered Matters

AU-C 920 Illustrations

Illustration 1-A. Typical Comfort Letter for a 1933 Act Offering

Illustration 1-B. Typical Comfort Letter for a Non–1933 Act Offering When the Required Representation Letter Has Been Obtained

Illustration 2. Letter When a Short-Form Registration Statement Is Filed Incorporating Previously Filed Form 8-K by Reference

Illustration 3. Letter Reaffirming Comments in Illustration 1-A as of a Later Date

Illustration 4-A. Comments on Pro Forma Financial Information: Negative Assurance on Pro Forma ...

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