Strengthening Corporate Governance - CPAs' commitment renewed
On May 15, 2015, JICPA issued a Chairman and President’s statement (JICPA Statement) to all of its members to closely study the new Corporate Governance Code issued by the Tokyo Stock Exchange (TSE), and ensure that they perform roles expected of CPAs, either as external auditors or outside directors, in deepening corporate governance practices in Japan.
The new Code and related rules entered into force on June 1, 2015, and are applicable to all listed companies on the First and Second sections of TSE.
They are formulated by TSE by following the “Japan’s Corporate Governance Code [Final Proposal] - Seeking Sustainable Corporate Growth and Increased Corporate Value over the Mid- to Long-Term” issued on March 5, 2015, by the Council of Experts Concerning the Corporate Governance Code under the Financial Services Agency of Japan. In preparing the Final Proposal, the Council referred to the principles-based models of OECD and other countries in Europe.
Utilizing the expertise and competence in the areas of accounting, auditing and business, the JICPA Statement strongly encourages its members to renew their commitments and assist companies in enhancing transparency in corporate management and achieving sustainable growth.
For more information about the Code, please refer to the following websites:
Council of Experts Concerning the Corporate Governance Code, “Japan’s Corporate Governance Code [Final Proposal] Seeking Sustainable Corporate Growth and Increased Corporate Value over the Mid- to Long-Term”
http://www.fsa.go.jp/en/refer/councils/corporategovernance/20150306-1.html
Enhancing the Corporate Governance (TSE)