What's New (Aug, 2007)

The Ministry of the Environment and the JICPA jointly Issued, "Report on CSR Information Assurance Research"

August 29,2007

On May 16, 2007, The Ministry of the Environment and the Japanese Institute of Certified Public Accountants (JICPA) issued," Report on CSR Information Assurance Research."

The Ministry of the Environment and the JICPA in their studies of how to assure the reliability of information disclosed by companies have set up a CSR Information Assurance Study Group to establish the basis for the assurance of CSR information including environmental information, such as universal assurance requirements, in Japan.

Please click here.

JICPA Issued Management Advisory Service and Research Committee Research Report No. 33,"Disclosure in Japan of Investor-Oriented Information Concerning Climate-Change Risk:Current Circumstancesand Issues"

August 8,2007

On May 16, 2007, the JICPA issued Management Advisory Service and Research Committee Research Report No. 33,"Disclosure in Japan of Investor-Oriented Information Concerning Climate-Change Risk:Current Circumstances and Issues."
Following on from No. 27 for this research report we have focused on climate change risk, analyzed in a more concrete manner the current situation regarding disclosures in Japanese corporations, and examined future issues.

http://www.hp.jicpa.or.jp/english/images/0-3-33-2-20070516.pdf(PDF · 38P · 134.0KB)

JICPA Publishes an Overview of the Quality Control Review for the Year Ending March 31, 2007

August 8,2007

On July 6, JICPA published an overview of the Quality Control Committee's review of quality control for the year ending March 31, 2007.

This year, 137 audit firms were reviewed out of 467 firms subject to quality control review by JICPA. Quality control review reports and recommendation reports were issued to 142 firms, including nine firms from the previous review period. Of these 142 firms, a qualified conclusion was expressed to 69 firms, and a negative conclusion to two.

An English translation of this report will be available soon.

JICPA responded to IAASB Proposed Pronouncements

August 6,2007

On July 31st, 2007, The JICPA submitted comments on Exposure Draft of International Auditing and Assurance Standards Board (IAASB);

-	ISA 250 (Redrafted), "The Auditor's Responsibilities Relating to Laws and Regulations in an Audit of Financial Statements"

JICPA's comment letter to the IAASB can be obtained at:

http://www.hp.jicpa.or.jp/english/images/4-48-250-2-20070731.pdf(PDF · 14.3KB)

JICPA responded to Proposed Amendments to the IASC Foundation Constitution and the Preface to International Financial Reporting Standards

August 6,2007

On July 31st, 2007, The JICPA submitted comments on the Proposed Amendments to the IASC Foundation Constitution and the Preface to International Financial Reporting Standards.

JICPA's comment letter to the IASB can be obtained at:

http://www.hp.jicpa.or.jp/english/images/4-51-0-2-20070731.pdf(PDF · 11.0KB)

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