News Flash (Jul, 2010)
JICPA publishes Practical Guidelines related to "Audit of the Disclosure of Condition of Financial Instruments at Financial Institutions”
July 30,2010
JICPA published, on May 18, 2010, Industry Audit Practice Committee Report No.45 “Audit of the Disclosure of Financial Instruments at Financial Institution”. These Guidelines include the matters relating to the audit of the note of financial instruments in the financial statement of a financial institution, in accordance with the “Revised Accounting Standards for the Financial Instruments” announced on March 10, 2010.
July 30,2010
JICPA published, on June 10, 2010, “Overview of the Quality Control Review” for the year ended March 31, 2010. Quality control committee of JICPA conducts quality control reviews of those audit corporations that audit large companies, as defined in the Certified Public Accountants Act, in principle, once every three years. As a result, JICPA publishes “Quality Control Review Reports” and "Recommendations” to the audit corporation subjected to the quality control review. This year, quality control reviews were completed for 85 audit corporations. In addition, 65 audit corporations were subject to the follow-up of the previous year review, and 16 audit corporations where the improvement was insufficient, as a result of follow-up review, were subjected to additional follow-up review.
July 30,2010
On July 30, 2010, the JICPA submitted comments on the Discussion Paper "Extractive Activities."
JICPA's comment letter to the IASB can be obtained at:
http://www.hp.jicpa.or.jp/english/news/files/4-11-0-2e-20100730.pdf
(PDF · 5P · 22.1KB)
July 27,2010
The JICPA is pleased to announce the publication of the sixth edition of "Corporate Disclosure in Japan -Overview." This booklet provides both historical and current information regarding the outline of the corporate disclosure system in Japan. This will help you to better understand an overview of the current status of corporate disclosure in Japan.
To obtain this publication,
Please visit:
July 16,2010
On July 16, 2010, the JICPA submitted comments on the Exposure Draft "Fair Value Option for Financial Liabilities."
JICPA's comment letter to the IASB can be obtained at:
http://www.hp.jicpa.or.jp/english/news/files/4-11-0-2e-20100712_1.pdf(PDF · 5P · 21.1KB)
July 12,2010
On June 30, 2010, the JICPA submitted comments on the Exposure Draft " Financial Instruments: Amortised Cost and Impairment."
JICPA's comment letter to the IASB can be obtained at:
http://www.hp.jicpa.or.jp/english/news/files/4-11-0-2e-20100712.pdf(PDF · 5P · 21.1KB)
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