Page 663 - Auditing Standards

As of December 15, 2017
15. Certain types of companies are permitted to include earnings data for a twelve-month period to the date

of the latest balance sheet furnished in lieu of earnings data for both the interim period between the end of
the latest fiscal year and the date of the latest balance sheet and the corresponding period of the preceding
fiscal year. The following would be substituted for the applicable part of paragraph 3 of example A.

3. . . . was to enable us to express our opinion on the financial statements as of December 31, 19X5, and
for the year then ended, but not on the financial statements for any period included in part within that year.

Therefore, we are unable to and do not express any opinion on the unaudited condensed consolidated
balance sheet as of March 31, 19X6, and the related unaudited condensed consolidated statements of
income, retained earnings (stockholders' equity), and cash flows for the twelve months then ended
included in the registration statement. . . .

Example O: Alternate Wording When the Procedures That the Underwriter Has
Requested the Accountant to Perform on Interim Financial Information Are Less
Than an AS 4105 Review

16. The example assumes that the underwriter has asked the accountants to perform specified procedures
on the interim financial information and report thereon in the comfort letter. The letter is dated June 28, 19X6;
procedures were performed through June 23, 19X6, the cutoff date. Since an AS 4105 review was not

performed on the interim financial information as of March 31, 19X6 and for the quarter then ended, the
accountants are limited to reporting procedures performed and findings obtained on the interim financial
information. In addition to the information presented below, the letter would also contain paragraph 7 of the

typical comfort letter in example A.

June 28, 19X6

[Addressee]

Dear Sirs:

We have audited the consolidated balance sheets of The Blank Company, Inc. (the company) and the

subsidiaries as of December 31, 19X5 and 19X4, and the consolidated statements of income, retained
earnings (stockholders' equity), and cash flows for each of the three years in the period ended December

31, 19X5 and the related financial statement schedules all included in the registration statement (no. 33-
00000) on Form S-1 filed by the company under the Securities Act of 1933 (the Act); our reports with

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