The FIEA requires listed companies to submit quarterly financial statements, and those reports must be reviewed by independent CPAs. (b)Review report of quarterly financial statements.The independent CPAs express their opinions in the audit report that the statements of financial position, performance results, and cash flows are fairly and faithfully presented from every material perspective. CPAs issue three types of reports in audits under FIEA:Īudit report on the financial statements for the current fiscal year.įinancial statements submitted must be audited by independent CPAs in accordance with the Japanese GAAS. Under the FIEA, certain listed companies and other specified entities are required to be audited by independent CPAs. Revised Auditing Standards Committee Statements (ASCSs) and Quality Control Standards Committee Statement 1 (QCSCS 1) - Comparison with International Standards on Auditing (ISAs) and International Standard on Quality Control 1 (ISQC 1) -(PDF/72P/384KB).List of Auditing Standards Committee Statements(PDF/2P/103KB).
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