JICPA issues Law and Regulation Committee Research Report No. 8 "Q&A on Limited Liability Audit Corporation System"
September 11, 2008
The limited liability audit corporation system was set up by the Certified Public Accountants Act ("CPA Act") that had been revised in June, 2007. Under this new system, audit corporations which wish to convert its structure to limited liability audit corporation need to meet various requirements including registration with the Prime Minister, maintenance of minimum capital amount, provision of deposit, and the disclosure of the financial statements by audit corporations.
This Q&A provides an overview of limited liability audit corporation system, and practical steps that should be considered in implementation from unlimited liability audit corporation to limited liability audit corporation.
This document is available in Japanese only.