Comfort letters are challenging and can be tricky to negotiate. While there are steps you can take to try to smooth the process, you should also be aware that this will not always be possible. Auditors are skilful at cherry-picking the elements that they like from different markets – always striving to reduce their perceived liability.
Key learning objectives:
What is an engagement letter?
What due diligence procedures can underwriters carry out to address limited comfort or any issues flagged in the comfort letter?
What are some key things to watch out for to ensure the process goes smoothly?