Principles of Auditing & Other Assurance Services (Irwin Accounting)

20th Edition

ISBN: 9780077729141

Author: Ray Whittington, Kurt Pany

Publisher: McGraw-Hill Education

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Textbook Question

Chapter 19, Problem 27QRA

In connection with a public offering of first-mortgage bonds by Guizzetti Corporation, the bond underwriter has asked Guizzetti’s CPAs to furnish it with a comfort letter giving as much assurance as possible on Guizzetti’s unaudited financial statements for the three months ended March 31. The CPAs had expressed an unqualified opinion on Guizzetti’s financial statements for the year ended December 31, the preceding year; they also performed a review of Guizzetti’s financial statements for the three months ended March 31. Nothing has come to their attention that would indicate that the March 31 statements are not properly presented.

Required:

a. Explain what can be stated about the unaudited financial statements in the letter.
b. Discuss other matters that are typically included in comfort letters.

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Chapter 19, Problem 26QRA

Chapter 19, Problem 28QRA

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Chapter 19 Solutions

Principles of Auditing & Other Assurance Services (Irwin Accounting)

Ch. 19 - Prob. 1RQ Ch. 19 - Prob. 2RQ Ch. 19 - Prob. 3RQ Ch. 19 - Prob. 4RQ Ch. 19 - Prob. 5RQ Ch. 19 - Prob. 6RQ Ch. 19 - Prob. 7RQ Ch. 19 - Prob. 8RQ Ch. 19 - Prob. 9RQ Ch. 19 - Prob. 10RQ

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