8/10/2019 Example of a Comfort Letter

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Example of a Comfort letter

This DRAFT is furnished solely for the purpose of indicating the form of letter that we would expect

to be able to furnish the named underwriters in response to their request, the matters expected to

be covered in the letter, and in the nature of the procedures that we would expect to carry out with

respect to such matters. ased on our discussions with the named underwriters, it is our

understanding that the procedures outlined in this draft letter are those they wish us to follow.

!nless named underwriters inform us otherwise, we shall assume that there are no additional

procedures they wish us to follow. The text of this letter itself will depend, of course, on the results

of the procedures, which we would not expect to complete until shortly before the letter is given

and in no event before the cut"o# date indicated therein. $e retain the right to modify the wording

below accordingly.

[Location, Date, 20XX]

[Underwriter Name(s)].As lead manager and as representative o t!e

Underwriters (t!e "Underwriters#) named in t!e

prospect$s reerred to %elow

Attn. [Name]

[&itle]

['ompanDept]

[Addres]

[&own]

*entlemen,

+e !ave a$dited t!e consolidated %alance s!eets o ['ompan Name] (t!e "'ompan#) and

s$%sidiaries as o Decem%er -, 200X- and Decem%er -, 20XX2, and t!e consolidated statements

o income, statement o c!anges in e/$it, and cas! lows and selective notes or eac! o t!e two ears

t!en ended, w!ic! !ave %een prepared in conormit wit! nternational 1inancial eporting 3tandards

(13) as adopted in t!e 4U, incl$ded in t!e prospect$s, dated Date, 20XX, in D$tc!. 5$r a$dits !ave

%een cond$cted in accordance wit! [state relevant a$dit ramewor6] in ['o$ntr].

+e !ave reviewed t!e interim condensed consolidated %alance s!eets o ['ompan Name] (t!e

"'ompan#) and s$%sidiaries as o 7arc! -, 20XX- and 7arc! -, 20XX, and t!e interim

condensed consolidated statements o income, statement o c!anges in e/$it, cas! lows and selectivenotes or eac! o t!e two periods t!en ended, w!ic! !ave %een prepared in conormit wit! A3 8

"nterim 1inancial eporting# as adopted in t!e 4U, incl$ded in t!e same prospect$s.

+e cond$cted o$r reviews in accordance wit! t!e g$idelines o t!e 9elgian nstit$te o egistered

A$ditors (94). A review o interim inancial inormation consists principall o appling

analtical proced$res and ma6ing in/$iries o persons responsi%le or inancial and acco$nting

matters. t is s$%stantiall less in scope t!an an a$dit cond$cted in accordance wit! t!e standards o

t!e 9elgian nstit$te o egistered A$ditors (94), t!e o%:ective o w!ic! is t!e e;pression o an

opinion regarding t!e inancial statements ta6en as a w!ole. Accordingl, we do not e;press s$c! an

opinion.

All a%ove inormation !as %een incl$ded in t!e D$tc!1renc! version o t!e prospect$s (n