diff --git a/contrib/auditor-report.tex.j2 b/contrib/auditor-report.tex.j2
index d826de446..a8514aed8 100644
--- a/contrib/auditor-report.tex.j2
+++ b/contrib/auditor-report.tex.j2
@@ -418,9 +418,10 @@ The total loss from emergencies detected by counting coins could be up to
 
 Note that emergencies by value deposited can {\em also} arise if the exchange
 fails to properly detect double spending (or simply fails to properly account
-for the remaining balance of a coin).  So in combintation with arithmetic
-problems (Section~\ref{sec:arithmetic}) issues in this section are not a clear
-indicator that the exchange's private signing key was compromised.
+for the remaining balance of a coin).  Thus, if issues are listed here {\bf in
+combination with} arithmetic problems (Section~\ref{sec:arithmetic}) issues,
+then they may not be a definitive indicator that the exchange's private
+signing key was compromised.
 
 % Table generation tested by testcases #18, #25 in test-auditor.sh