Amendment of Practical Guidelines related to "Going Concern Assumption on the Semi-Annual Audit and Review Standards for Quarterly Financial Reporting"
September 01, 2009
JICPA issued, on July 8, 2009, amendment to the following practical guidelines:
• Auditing Standards Committee Statement No. 17 "Semi-Annual Audit";
• Auditing and Assurance Practice Committee Statement No. 75 "Practical Guideline on Preparation of Auditor's Report"; and
• Auditing and Assurance Practice Committee Statement No. 76 "Audit Treatment concerning Subsequent Events".
Subsequent to the amendment of Auditing Standards by the Business Accounting Council (BAC), an advisory body established within the Financial Services Agency, in April 2009, BAC issued pronouncements, on June 30, 2009. The pronouncement, "Opinion on the revision of the Semi-Annual Auditing Standards and Review Standards for Quarterly Financial Reporting," amended the provisions concerning going concern assumption for review engagements in quarterly financial reporting. In addition, related statements were issued by the Accounting Standards Board of Japan (ASBJ) and the Cabinet Office.
JICPA's practical guidelines were amended to conform to the above amendments.
These documents are available in Japanese only.