It sounds like one of the many parts of the Blade Runner mythos that causes your eyes to glaze over every time one of your friends brings it up. But in actuality, it’s part of the procedure for a financial audit.
Sometimes a company is required to submit its financial statements for an audit. In this process, an expert - usually a certified public accountant - reviews the company's books and makes a judgement about whether the financial statements meet certain standards.
This general process is known as the attest function. It's a somewhat fancy name for the main part of the audit procedure.
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Finance: What is a Commitment Letter?5 Views
Finance a la shmoop what is a commitment letter? dear Rebecca it's been fun and
all but asking me to move in with you was a real turnoff so uh have a nice [Rebecca reading letter]
life yeah that would be a fear of commitment letter I know that one well
well so what's a commitment letter then all right well you need dough but you
don't need it today you need it in six months when construction is finished on
your cabin by the lake at that point you'll convert your very expensive
building loan into a normal mortgage well you can go to the bank and for a [Man walks into bank]
small ish fee get a commitment letter from them which stipulates that assuming
nothing material changes between now and then you will in fact then get a loan
for one hundred fifty two thousand dollars at 5 percent fixed interest rate
for 30 years the bank is then committed to giving you that loan when you know [Contract stamped with committed]
eventually you need it that way you don't have to worry about your bank you
know breaking up with you which is nice because it's tough getting
the It's not you it's me speech from a guy in a bowtie [Man wearing bow tie talking to a man in the bank]
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