JICPA issues amendments of pronoucements of Ethics Committee
March 24, 2008
On February 13, 2008, JICPA Executive Board approved the following:
- Amendments to Interpretive Guidance for Independence (in response to the revision of the CPA Act), No.1-8 (interim reports);
- Amendments to "An Auditor's checklist", the research report of the Ethics Committee; and
- "An auditor's checklist for the audit of audit corporations", the research report No. 2 of the Ethics Committee.
These above decisions have been made to conform with the amended CPA Act, which will become effective on April 1, 2008.
The amended CPA Act requires limited liability audit corporations to have their financial statements audited by individual CPAs or audit corporations.
In that regard, the legal provisions provide specific independence requirements.
In response to the new requirements, the JICPA prepared an audit checklist, with references to Cabinet Orders and Cabinet Office Ordinances.
These documents are available in Japanese only.
The amended CPA Act requires limited liability audit corporations to have their financial statements audited by individual CPAs or audit corporations.
In that regard, the legal provisions provide specific independence requirements.
In response to the new requirements, the JICPA prepared an audit checklist, with references to Cabinet Orders and Cabinet Office Ordinances.
These documents are available in Japanese only.