JICPA Publishes the Overview of the Quality Control Review
February 26, 2007
JICPA published a report on the overview of the activities of the Quality Control Committee from April 1 to September 30, 2006.According to the report, some deficiencies were identified as qualified conclusion matters in audit firms for which quality control reviews have been completed in the first half of the year that were related to audits based on risk assessment and engagement quality control reviews for expressing an audit opinion. In addition, there were four particular cases that the Quality Control Committee reported to the chairman and president. These were cases where substantial doubt regarding the appropriateness of an audit opinion expressed by a sole practitioner or an audit corporation was identified or regarding the compliance of a sole practitioner or an audit corporation with the Constitution and regulations. These were discovered as a result of a quality control review.
The document is available in Japanese only.