During an IPO, a company will often declare a stock-split that does not become effective until just prior to the effectiveness of a registration statement. In many cases, the intent of the stock-split is to establish an offering price that is within a preferred range. In such cases, it is appropriate to give retrospective effect to the stock-split in the historical financial statements. The auditors will then issue a preamble report on the financial statements. A preamble report is comprised of the standard report preceded by a preamble indicating that the split has not occurred, but that when it does, the auditor would be in a position to furnish the report presented. In the subsequently amended registration statement after the split has been consummated, the preamble is deleted and the auditor’s report is dual dated with respect to the split.