EX.99 ACCT
Registrant’s Independent Public Accounting Firm
On June 8, 2020, the Audit, Compliance and Valuation Committee of the Board of Trustees (the Board) approved, and on June 9, 2020, the Board approved, Deloitte & Touche LLP as the independent registered public accounting firm of The Charles Schwab Family of Funds, Schwab Capital Trust, Schwab Investments, Schwab Annuity Portfolios, Schwab Strategic Trust and Laudus Trust (the “Schwab Funds Complex”) for fiscal periods ending after June 8, 2020.
On June 8, 2020, PricewaterhouseCoopers LLP (the “Prior Auditor”) resigned as the independent registered public accounting firm of the Schwab Funds Complex.
The Prior Auditor’s reports on the financial statements of the funds listed in Appendix I (the “funds”) for the last two fiscal years, the years ended August 31, 2018 and August 31, 2019 did not contain an adverse opinion or disclaimer of opinion, and were not qualified or modified as to uncertainty, audit scope or accounting principles.
During the last two fiscal year-ends and through June 8, 2020, there were no (1) disagreements with the Prior Auditor on any matter of accounting principles or practices, financial statement disclosure, or auditing scope or procedure, which disagreements, if not resolved to the Prior Auditor’s satisfaction, would have caused it to make reference to that matter in connection with its reports on the funds’ financial statements for such periods; or (2) “reportable events,” as that term is defined in Item 304 (a)(1)(v) of Regulation S-K under the Securities Exchange Act of 1934.
The Board requested that the Prior Auditor address a letter to the U.S. Securities and Exchange Commission stating whether or not it agrees with the above statements. A copy of such letter, dated November 6, 2020 is attached as Attachment A to this exhibit.
Appendix I
Schwab Treasury Inflation Protected Securities Index Fund
Schwab U.S. Aggregate Bond Index Fund
Schwab Short-Term Bond Index Fund
Schwab Tax-Free Bond Fund
Schwab California Tax-Free Bond Fund
Schwab High Yield Municipal Bond Fund*
| * | The Prior Auditor resigned from the Schwab High Yield Municipal Bond Fund, however, since the fund reorganized into Schwab Investments after June 8, 2020, which is before the August 10, 2020 commencement of operations in Schwab Investments, the Prior Auditor has not audited the fund or issued any opinion related to the financial statements for any period listed. |
Attachment A
November 6, 2020
Securities and Exchange Commission
100 F Street, N.E.
Washington, DC 20549
Commissioners:
We have read the statements made by Schwab Investments (copy attached) related to the funds listed in Appendix I, which we understand will be filed with the Securities and Exchange Commission, pursuant to Item 13(a)(4) of form N-CSR of Schwab Investments dated November 6, 2020. We agree with the statements concerning our Firm contained therein.
Very truly yours,
/s/ PricewaterhouseCoopers LLP
San Francisco, California
November 6, 2020
Appendix I
| | |
Fund Name | | Commission File Number |
| Schwab California Tax-Free Bond Fund | | S000006818 |
| Schwab Tax-Free Bond Fund | | S000006815 |
| Schwab Treasury Inflation Protected Securities Index Fund | | S000006819 |
| Schwab Short-Term Bond Index Fund | | S000056208 |
| Schwab U.S. Aggregate Bond Index Fund | | S000056207 |
| Schwab High Yield Municipal Bond Fund | | S000068892 |
Registrant’s Independent Public Accounting Firm
On June 8, 2020, the Audit, Compliance and Valuation Committee of the Board of Trustees (the Board) approved, and on June 9, 2020, the Board approved, Deloitte & Touche LLP as the independent registered public accounting firm of The Charles Schwab Family of Funds, Schwab Capital Trust, Schwab Investments, Schwab Annuity Portfolios, Schwab Strategic Trust and Laudus Trust (the “Schwab Funds Complex”) for fiscal periods ending after June 8, 2020.
On June 8, 2020, PricewaterhouseCoopers LLP (the “Prior Auditor”) resigned as the independent registered public accounting firm of the Schwab Funds Complex.
The Prior Auditor’s reports on the financial statements of the funds listed in Appendix I (the “funds”) for the last two fiscal years, the years ended August 31, 2018 and August 31, 2019 did not contain an adverse opinion or disclaimer of opinion, and were not qualified or modified as to uncertainty, audit scope or accounting principles.
During the last two fiscal year-ends and through June 8, 2020, there were no (1) disagreements with the Prior Auditor on any matter of accounting principles or practices, financial statement disclosure, or auditing scope or procedure, which disagreements, if not resolved to the Prior Auditor’s satisfaction, would have caused it to make reference to that matter in connection with its reports on the funds’ financial statements for such periods; or (2) “reportable events,” as that term is defined in Item 304 (a)(1)(v) of Regulation S-K under the Securities Exchange Act of 1934.
The Board requested that the Prior Auditor address a letter to the U.S. Securities and Exchange Commission stating whether or not it agrees with the above statements. A copy of such letter, dated November 6, 2020 is attached as Attachment A to this exhibit.
Appendix I
Schwab Treasury Inflation Protected Securities Index Fund
Schwab U.S. Aggregate Bond Index Fund
Schwab Short-Term Bond Index Fund
Schwab Tax-Free Bond Fund
Schwab California Tax-Free Bond Fund
Schwab High Yield Municipal Bond Fund*
| * | The Prior Auditor resigned from the Schwab High Yield Municipal Bond Fund, however, since the fund reorganized into Schwab Investments after June 8, 2020, which is before the August 10, 2020 commencement of operations in Schwab Investments, the Prior Auditor has not audited the fund or issued any opinion related to the financial statements for any period listed. |
EX.99 ACCT
Registrant’s Independent Public Accounting Firm
Effective August 10, 2020, the Wasmer Schroeder High Yield Municipal Bond Fund, a series of Advisors Series Trust re-organized into the Schwab High Yield Municipal Bond Fund (effective July 1, 2021, Schwab High Yield Municipal bond Fund changed its name to Schwab Opportunistic Municipal Bond Fund), a series of Schwab Investments with Deloitte & Touche LLP as the independent registered public accounting firm of Schwab High Yield Municipal Bond Fund (effective July 1, 2021, Schwab High Yield Municipal bond Fund changed its name to Schwab Opportunistic Municipal Bond Fund). Before the re-organization, TAIT, WELLER & BAKER LLP (the “Prior Auditor”) serve as independent registered public accounting firm to the Wasmer Schroeder High Yield Municipal Bond Fund.
The Prior Auditor’s reports on the financial statements of the Wasmer Schroeder High Yield Municipal Bond Fund for the last two fiscal years, the years ended February 28, 2019 and February 29, 2020 did not contain an adverse opinion or disclaimer of opinion, and were not qualified or modified as to uncertainty, audit scope or accounting principles.
During the last two fiscal year-ends and through August 10, 2020, there were no (1) disagreements with the Prior Auditor on any matter of accounting principles or practices, financial statement disclosure, or auditing scope or procedure, which disagreements, if not resolved to the Prior Auditor’s satisfaction, would have caused it to make reference to that matter in connection with its reports on the fund’s financial statements for such periods; or (2) “reportable events,” as that term is defined in Item 304 (a)(1)(v) of Regulation S-K under the Securities Exchange Act of 1934.
The Board requested that the Prior Auditor address a letter to the U.S. Securities and Exchange Commission stating whether or not it agrees with the above statements. A copy of such letter, dated June 17, 2022 is attached as Attachment A to this exhibit.
Attachment A
June 17, 2022
Securities and Exchange Commission
100 F Street, N.E.
Washington, DC 20549
Re: Schwab High Yield Municipal Bond Fund (the “Fund”), formerly, the Wasmer Schroeder High Yield Municipal Fund (Effective July 1, 2021, Schwab High Yield Municipal Bond Fund changed its name to Schwab Opportunistic Municipal Bond Fund)
Commission File Number 811-6200
To whom it may concern:
We have received a copy of, and are in agreement with, the statements concerning our Firm being made by the Fund pursuant to Item 304(a) of Regulation S-K in its Amended Form N-CSR to be filed on or about June 22, 2022, captioned “EX.99 ACCT, Registrant’s Independent Public Accounting Firm.”
We hereby consent to the filing of this letter as an exhibit to the foregoing report.
Sincerely,
/s/ TAIT, WELLER & BAKER LLP
June 17, 2022
| | |
| cc: | | Mr. Derek DeBenedictis, Assistant Treasurer |
| | Schwab Investments 211 Main Street San Francisco, California 94105 |
