comfort letter


comfort letter
A letter from an independent auditor included in a preliminary prospectus stating that, while a full audit has not been undertaken, the auditor has done a 'review' sufficient to assure that financial statement information in the preliminary prospectus is correctly prepared to the best of the auditor's knowledge. The auditor in effect states that, had a full audit been done, they are comfortable that the audited financial statements would not be materially different from the ones presented in the preliminary prospectus. Bloomberg Financial Dictionary

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comfort letter comfort letter letter

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comfort letter UK }} US }} noun [C] ACCOUNTING, FINANCE
LETTER OF COMFORT(Cf. ↑letter of comfort)

Financial and business terms. 2012.