Q: Irrevocable Trust: The Annual Accounting: Cover Letter from Trustee
As a trustee of an irrevocable trust, the CPA is paid to prepare an annual accounting with the cover letter from the trustee. If the trustee provided a sample ( from the trust attorney to the CPA) of how it is required to be prepared and written....and the CPA omitted the 6 month limited language in the cover letter ( yet, it states in the trust document about the annual report and the 6 month limited language) and the trustee did not realize the CPA had omitted the 6 month limited language in the cover letter until 2 annual accounting's which were sent out.. What should be done?
A: The accountant should send out a new letter correcting the earlier one.
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