What's New (Jun, 2011)

June 29,2011

JICPA revised, on May 17, 2011, the Law and Regulation Committee Research Report No. 10 "An engagement letter for assurance engagements of financial information", and No. 11 "An engagement letter for audits and reviews."

Amongst the changes in Research Report No11, the sections relating to an audit and a review engagement letter were revised as a part of our project to redraft JICPA statements along with the new drafting principles (such as the obligation to clarify the procedures) established in response to the Clarity Project of the International Auditing and Assurance Standards Board (IAASB) of International Federation of Accountants. The major change is the revised wording relating to the responsibility of management. These documents are available in Japanese only.