What's New (Jun, 2009)

June 19,2009

JICPA published, on May 21, 2009, the proposal entitled "Role of corporate governance and disclosure by listed companies - to improve the credibility of financial information of listed companies". JICPA established in November 2007 a project team in anticipation of the possible revision of the Companies Act. The project team considered the role of corporate governance from a wide range of perspectives, including who should appoint accounting auditors and determine audit fees, and how the disclosure and audit system should be improved under good corporate governance from a mid-and long-term perspective. The JICPA issued this proposal as a result of these deliberations. JICPA will request relevant parties to follow-up on the proposals.

This document is available in Japanese only.