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JICPA issues revised Auditing Standards Committee Statement No.580, "Written Representations"

July 17, 2012

JICPA published, on June 15, 2012, revised Auditing Standards Committee Statement No.580, "Written Representations."
After careful analysis of the comments received for the draft on "Audit Tools, " which was exposed for public consultation on March 30, 2012, the following items of the Auditing Standards Committee Statement No.580 have been revised in order to promote further understanding of the notes relating to uncorrected misstatements in the illustrative example.
・ Uncorrected misstatements included in comparative information
・ For audits under Companies Act, impact on the current profit or loss from the adjustments made to the profit or loss of the prior periods
As no significant changes have been made to the contents of the statement, the revised statement will be effective for audits conducted for periods beginning on or after April 1, 2012.

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