What's New (Jul, 2017)

July 14,2017

JICPA will host an event on “Overview of the Current Activities of the International Accounting Standards Board (IASB)” on September 4, 2017 from 13:30 to 17:10 at Nikkei Hall (Otemachi, Tokyo).

During this seminar, speakers from the IASB will present their standard setting activities and research projects including the projects of conceptual framework and disclosure initiatives. The seminar will also address IFRS 16 Leases, which is scheduled to be effective for annual reporting periods beginning on or after 1 January 2019.

Presenters will include, Mary Tokar, IASB board member, Takatsugu Ochi, IASB board member and Kathryn Donkersley, IASB senior technical staff.

For those interested members of institutes in GAA, please contact JICPA secretariat at international@sec.jicpa.or.jp

For details of the GAA, please visit: http://globalaccountingalliance.com/

July 14,2017

On July 27, 2017, JICPA will co-sponsor a forum entitled “Enhanced transparency and Audit quality.” Prominent speakers and panelists will gather to discuss how the enhanced transparency could further contribute to the quality of audit in Japan, by drawing on from the UK experience and lessons for adopting the audit firm governance code and the extended auditor’s reports.

For those interested members of institutes in GAA, please contact JICPA secretariat at international@sec.jicpa.or.jp

For details of the GAA, please visit: http://globalaccountingalliance.com/

July 14,2017

JICPA issued, on 28 June, 2017, recommendations on the reform of taxation system in Japan for fiscal 2018. By reviewing the current socio-economic environment, JICPA addressed on the issues relating to the current taxation policies and frameworks in Japan and possible reforms for the fiscal 2018.

The original texts are available at the following website (Japanese only).

Requests for Fiscal 2018 Taxation:

http://www.hp.jicpa.or.jp/specialized_field/20170628wjj.html

Recommendations for Future Taxation (2018):

http://www.hp.jicpa.or.jp/specialized_field/20170628xqf.html

July 14,2017

JICPA published, on 26 June, 2017, an annual activity report on the Quality Control Committee, related to its reviews for the year ended March 31, 2017.

The JICPA quality control review, as prescribed by the JICPA Constitution, is performed primarily for audits conducted by audit firms engaging in audits of listed companies, public interest entities and other certain entities under the CPA Act, in order to maintain and improve the quality of audit practices and to ensure public trust in audits.

Together with the annual report, "Recommendations on the Activities of the Quality Control Committee for the year ended March 31, 2017" was also issued by the Quality Control Oversight Board which monitors the entire process of quality control reviews at JICPA.

The annual report and the recommendations are available at the following website (Japanese only).

http://www.hp.jicpa.or.jp/specialized_field/20170626nen.html