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Author: |
Kelen Camehl, CPA, MBA |
Course Length: |
Pages: 27 ||| Word Count: 12,965 ||| Review Questions: 6 ||| Final Exam Questions: 10 |
CPE Credits: |
2.0 |
IRS Credits: |
0 |
Price: |
$17.95 |
Passing Score: |
70% |
Course Type: |
Text |
Technical Designation: |
Technical |
Field Of Study: |
Auditing |
Approved Audience: |
NASBA QAS - NASBA Registry |
Key Takeaways: |
This course provides a detailed overview of comfort letters used in securities offerings, including their independence requirements and reporting on SEC compliance.
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Frequently Asked Questions: |
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Description: |
This course provides a detailed overview of comfort letters in the context of securities offerings. It covers the purpose of comfort letters, the differences between negative assurance and positive assurance, and the procedures accountants perform on audited, unaudited, and pro forma financial information. The course also addresses how to handle subsequent changes, capsule information, financial forecasts, and other financial data, while highlighting what accountants can and cannot comment on. By the end of the course, participants will understand how comfort letters support underwriter due diligence and the role they play in providing assurance on selected financial information. |
Usage Rank: |
30000 |
Release: |
2026 |
Version: |
1.0 |
Prerequisites: |
None. |
Experience Level: |
Overview |
Additional Contents: |
Complete, no additional material needed. |
Additional Links: |
Internal: A Definitive Guide to Auditing CPA Courses
Internal: Fraud CPE Courses For CPAs
External: Comfort letter
External: Negative Assurance Concepts Related to Comfort Letters
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Advance Preparation: |
None. |
Delivery Method: |
QAS Self Study |
Intended Participants: |
Anyone needing Continuing Professional Education (CPE). |
Revision Date: |
26-Jun-2026 |
NASBA Course Declaration: |
Participants must complete the final examination within one year of purchase and with a minimum passing grade of 70% or better to receive CPE credit unless otherwise noted on the Course History page (i.e. California Ethics must score 90% or better). After logging in click on the Course History links on your My Courses page for the Begin date and Expire date for the Final Exam. |
Keywords: |
What CPAs Need to Know About Comfort Letters - CPE course |
Learning Objectives: |
Course Learning Objectives Upon completion of this course, you will be able to:
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Course Contents: |
Chapter 1 - What CPAs Need to Know About Comfort Letters Course Learning Objectives Course Overview Introduction Overview of Comfort Letters Who Can Receive a Comfort Letter General Principles and Limitations Format and Content of Comfort Letters Independence Review Questions Introductory Paragraph Reporting on Compliance with SEC Requirements Information Other Than Audited Financial Statements Interim Financial Statements Capsule Financial Information Pro Forma Financial Information Financial Forecasts Subsequent Changes Statistics, Tables, and Other Information Concluding Paragraph Subsequently Discovered Matters Illustrative Example Conclusion Review Questions Glossary of Key Terms |
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