Page 432 - Auditing Standards

As of December 15, 2017
business, revenues, available sources of supply, or markets or geographic areas for which

events could occur that would significantly disrupt normal finances within the next year.]

11. There are no—

a. Violations or possible violations of laws or regulations whose effects should be considered for
disclosure in the financial statements or as a basis for recording a loss contingency.

b. Unasserted claims or assessments that our lawyer has advised us are probable of assertion

and must be disclosed in accordance with Financial Accounting Standards Board (FASB)
Statement No. 5, Accounting for Contingencies. 2

c. Other liabilities or gain or loss contingencies that are required to be accrued or disclosed by

FASB Statement No. 5.

d. Side agreements or other arrangements (either written or oral) that have not been disclosed to
you.

12. The company has satisfactory title to all owned assets, and there are no liens or encumbrances on
such assets nor has any asset been pledged as collateral.

13. The company has complied with all aspects of contractual agreements that would have a material
effect on the financial statements in the event of noncompliance.

[Add additional representations that are unique to the entity's business or industry. See paragraph .07 and
appendix B [paragraph .17] of this section.]

To the best of our knowledge and belief, no events have occurred subsequent to the balance-sheet date and
through the date of this letter that would require adjustment to or disclosure in the aforementioned financial
statements.

____________________________________________
[Name of Chief Executive Officer and Title]

____________________________________________
[Name of Chief Financial Officer and Title]

[As amended, effective for audits of financial statements for periods beginning on or after December 15, 1999
by Statement on Auditing Standards No. 89. As amended, effective for audits of financial statements for
periods beginning on or after December 15, 2002, by Statement on Auditing Standards No. 99.]

Appendix B - Additional Illustrative Representations

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