Series 79 practice questioneasyDue Diligence Defense
Which professional is most responsible for providing a comfort letter to underwriters in support of due diligence?
- AIndependent public accountant✓ Correct answer
- BLead managing underwriter
- CCompany legal counsel
- DChief financial officer
Explanation
Why A — Independent public accountant
Accountants provide comfort letters on financial data for underwriter due diligence. The trap is thinking underwriters or counsel provide this assurance, but only the independent auditor can issue it.
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