A CPA should not normally refer to which one of the following subjects in a "comfort letter" to underwriters?
A)The independence of the CPA.
B)Changes in financial-statement items during a period subsequent to the date and period of the latest financial statements in the registration statement.
C)Unaudited financial statements and schedules in the registration statement.
D)Management's determination of identifiable segments.

Question

Quizplus · Accepted Answer

Comfort letters typically include discussions on the CPA's independence, changes in financial statement items during a subsequent period, and unaudited financial statements. However, they do not normally address management's determination of identifiable segments, as this is considered a management responsibility and judgment area.

A CPA Should Not Normally Refer to Which One of the Following