News Flash (Jun, 2009)

June 22,2009

On June 19, 2009, the JICPA submitted comments on the of Discussion Paper "Preliminary Views on Revenue Recognition in Contracts with Customers".

JICPA's comment letter to the IASB can be obtained at:

http://www.hp.jicpa.or.jp/english/images/4-51-0-2e-20090622.pdf(PDF · 12P · 40.3KB)

June 19,2009

JICPA published, on May 21, 2009, the proposal entitled "Role of corporate governance and disclosure by listed companies - to improve the credibility of financial information of listed companies". JICPA established in November 2007 a project team in anticipation of the possible revision of the Companies Act. The project team considered the role of corporate governance from a wide range of perspectives, including who should appoint accounting auditors and determine audit fees, and how the disclosure and audit system should be improved under good corporate governance from a mid-and long-term perspective. The JICPA issued this proposal as a result of these deliberations. JICPA will request relevant parties to follow-up on the proposals.

This document is available in Japanese only.

June 1,2009

On May 26, 2009, the JICPA submitted comments on "Explanatory Memorandum on IAESB Drafting Conventions".

JICPA's comment letter to the IAESB can be obtained at:

http://www.hp.jicpa.or.jp/english/images/4-49-0-2e-20090527.pdf(PDF · 731.1KB)