Form N-CEN - Annual Report for Registered Investment Companies
August 14 2023 - 8:30AM
Edgar (US Regulatory)
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Ernst & Young LLP
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Tysons, VA 22102 |
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Tel: +1 703 7470000
Fax: +1 703 747 1000
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Report of Independent Registered Public Accounting
Firm
To the Shareholders and
Board of Trustees of Guggenheim Taxable Municipal Bond &
Investment Grade Debt Trust
In planning and performing our audit of the financial
statements of Guggenheim Taxable Municipal Bond & Investment Grade Debt Trust (the
“Trust”) as of and for the year ended May 31, 2023, in accordance with
the standards of the Public Company Accounting Oversight Board (United States) (“PCAOB”), we considered the Trust’s internal
control over financial reporting, including controls over safeguarding securities, as a basis for designing our auditing procedures for
the purpose of expressing our opinion on the financial statements and to comply with the requirements of Form N-CEN, but not for the purpose
of expressing an opinion on the effectiveness of the Trust’s internal control over financial reporting. Accordingly, we express no
such opinion.
The management of the Trust is responsible for
establishing and maintaining effective internal control over financial reporting. In fulfilling this responsibility, estimates and
judgments by management are required to assess the expected benefits and related costs of controls. A company’s internal
control over financial reporting is a process designed to provide reasonable assurance regarding the reliability of financial
reporting and the preparation of financial statements for external purposes in accordance with U.S. generally accepted accounting
principles. A company’s internal control over financial reporting includes those policies and procedures that (1) pertain to
the maintenance of records that, in reasonable detail, accurately and fairly reflect the transactions and dispositions of the assets
of the company; (2) provide reasonable assurance that transactions are recorded as necessary to permit preparation of financial
statements in accordance with U.S. generally accepted accounting principles, and that receipts and expenditures of the company are
being made only in accordance with authorizations of management and directors of the company; and (3) provide reasonable assurance
regarding prevention or timely detection of unauthorized acquisition, use or disposition of a company’s assets that could have
a material effect on the financial statements.
Because of its inherent limitations, internal control
over financial reporting may not prevent or detect misstatements. Also, projections of any evaluation of effectiveness to future periods
are subject to the risk that controls may become inadequate because of changes in conditions, or that the degree of compliance with the
policies or procedures may deteriorate.
A deficiency in internal control over financial reporting
exists when the design or operation of a control does not allow management or employees, in the normal course of performing their assigned
functions, to prevent or detect misstatements on a timely basis. A material weakness is a deficiency, or a combination of deficiencies,
in internal control over financial reporting, such that there is a reasonable possibility that a material misstatement of the company’s
annual or interim financial statements will not be prevented or detected on a timely basis.
Our consideration of the Trust’s internal control
over financial reporting was for the limited purpose described in the first paragraph and would not necessarily disclose all deficiencies
in internal control that might be material weaknesses under standards established by the PCAOB. However, we noted no deficiencies in the
Trust’s internal control over financial reporting and its operation, including controls over safeguarding securities, that we consider
to be a material weakness as defined above as of May 31, 2023.
This report is intended solely for the information
and use of management and the Board of Trustees of Guggenheim Taxable Municipal Bond & Investment Grade Debt Trust and the Securities and Exchange Commission and is
not intended to be and should not be used by anyone other than these specified parties.
/s/ Ernst & Young LLP
Tysons, Virginia
July 25, 2023
A member firm of Ernst & Young Global Limited
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