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HKSIR 400 Issued October 2005 Revised October 2011, December 2012 Effective for engagements where the investment circular is dated on or after 1 January 2006 Hong Kong Standard on Investment Circular.

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The form and content of comfort letters follow Auditing Standards 6101 (AS 6101). Comfort letters include, among other information, a statement regarding the independence of the auditors, assurances as to the accuracy of the financial statements, and a description of the procedures used.

Also called a letter of support or comfort letter. A statement or letter by a third party that it will stand behind the obligations of a party under a contract.

One of the biggest risks in providing a comfort letter is the potential for legal liability. If a banker or other third party relies on a comfort letter provided by a CPA and suffers a financial loss as a result, they may sue us for damages.

Comfort letters are typically signed prior to the pricing decision or closing date for a given public offering or other transaction, as a part of the due diligence process. Subsequently, a "bring-down" letter is used to re-verify, as of a later date, that the original comfort letter is still valid.

Comfort letters are very different in nature to security or guarantees. They do not create rights over assets and, in most cases, they will not even be legally binding.

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© Copyright 1997-2025
airSlate Legal Forms, Inc.
3720 Flowood Dr, Flowood, Mississippi 39232
Form Packages
Adoption
Bankruptcy
Contractors
Divorce
Home Sales
Employment
Identity Theft
Incorporation
Landlord Tenant
Living Trust
Name Change
Personal Planning
Small Business
Wills & Estates
Packages A-Z
Form Categories
Affidavits
Bankruptcy
Bill of Sale
Corporate - LLC
Divorce
Employment
Identity Theft
Internet Technology
Landlord Tenant
Living Wills
Name Change
Power of Attorney
Real Estate
Small Estates
Wills
All Forms
Forms A-Z
Form Library
Customer Service
Terms of Service
DMCA Policy
About Us
Blog
Affiliates
Contact Us
Privacy Notice
Delete My Account
Site Map
All Forms
Search all Forms
Industries
Forms in Spanish
Localized Forms
Legal Guides
Real Estate Handbook
All Guides
Prepared for You
Notarize
Incorporation services
Our Customers
For Consumers
For Small Business
For Attorneys
Our Sites
US Legal Forms
USLegal
FormsPass
pdfFiller
signNow
airSlate workflows
DocHub
Instapage
Social Media
Call us now toll free:
1-877-389-0141
As seen in:
  • USA Today logo picture
  • CBC News logo picture
  • LA Times logo picture
  • The Washington Post logo picture
  • AP logo picture
  • Forbes logo picture
© Copyright 1997-2025
airSlate Legal Forms, Inc.
3720 Flowood Dr, Flowood, Mississippi 39232