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Amendment of Practical Guidelines related to "Disclosure of the Going Concern Assumption"

JICPA issued, on April 21, 2009, amendment to the following practical guidelines:

• Audit and Assurance Practice Committee Statements No. 74 "Disclosure of the Going Concern Assumption";

• Auditing and Assurance Practice Committee Statement No. 75 "Practical Guideline on Preparation of Auditor's Report";

• Auditing and Assurance Practice Committee Statement No. 76 "Audit Treatment concerning Subsequent Events";

• Auditing Standards Committee Statement No. 22 "Auditor's Consideration of the Going Concern Assumption";

• Auditing Standards Committee Statements No. 3 "Management Representation Letter";

• Auditing Standards Committee Statements No. 25 "Auditor's Communication with the Corporate Statutory Auditor, the Board of Corporate Statutory Auditors or the Audit Committee";

• Auditing Standards Committee Statements No. 27 "Audit Planning";

• Auditing Standards Committee Statements No. 28 "Audit Risk".

Business Accounting Council (BAC), an advisory body established within the Financial Services Agency, issued pronouncements, on April 9, 2009 "On the Revision of the Auditing Standards", which amended provisions concerning the going concern assumption. JICPA's practical guidelines were amended to conform to the BAC's amended Auditing Standards. These amendments are effective for the fiscal year ending on or after March 31, 2009.
These documents are available in Japanese only.