1. A comfort letter may contain all of the following except

1. A repetition of the audit opinion.
2. A statement indicating the accountants were independent.
3. Negative assurance.
4. A concluding paragraph limiting the use of the comfort letter.

2. The Securities and Exchange Commission has authority to

1. Prescribe specific auditing procedures to detect fraud concerning inventories and accounts receivable of companies engaged in interstate commerce.
2. Deny lack of privity as a defense in third-party actions for gross negligence against the

auditors of issuers.

3. Determine accounting principles for the purpose of financial reporting by companies offering securities to the public.

4. Require a change of auditors of governmental entities after a given period of years as a means of ensuring independence.

3. Form 8-K must be filed within

1. 90 days after the end of the fiscal year covered by the report.
2. 45 days after the end of each of the first 3 quarters of each fiscal year.
3. 90 days after the end of an employee stock purchase plan fiscal year.
4. 4 business days after significant events.

4.Form 10-K is filed with the SEC to update the information a company supplied when filing a registration statement under the Securities Exchange Act of 1934. A large accelerated filer must submit Form 10-K within

1. 60 days of the end of the company's fiscal year.
2. 45 days of the end of each quarter.
3. 2 weeks of the end of each month.
4. 15 days of significant events.