Insufficient effectiveness of Audit & Supervisory Board member audits and internal audits
First written in FY2016-Q2. 4 of 6 entries say "Restated". Latest entry: FY2024.
99 other companies' latest entry also says "Restated".
- FY2024RestatedAnnual report
「We are also enhancing information sharing among the statutory auditors, the accounting auditor, and the Internal Audit Office.」
Monthly and quarterly coordination and information sharing among the statutory auditors, the accounting auditor, and the Internal Audit Office continue. - FY2020RestatedAnnual report
「We also share, at the monthly liaison meetings between the statutory auditors and the Internal Audit Office, information on discussions concerning the evaluation of internal controls between the Internal Audit Office and the accounting auditor, as well as information on discussions between the statutory auditors and the accounting auditor, thereby enhancing information sharing among the statutory auditors, the accounting auditor, and the Internal Audit Office.」
In addition to meetings among the statutory auditors, the accounting auditor, and the Internal Audit Office, the sharing of the content of bilateral discussions through monthly liaison meetings continues. - FY2017RestatedAnnual report
「We share information on discussions concerning the evaluation of internal controls between the Internal Audit Office and the accounting auditor, as well as information on discussions between the statutory auditors and the accounting auditor.」
Coordination and information sharing among the statutory auditors, the accounting auditor, and the Internal Audit Office continue. - FY2016MitigatedAnnual report
「We will hold quarterly meetings among the statutory auditors, the accounting auditor, and the Internal Audit Office.」
A framework has been established to improve audit effectiveness through quarterly coordination among the statutory auditors, the accounting auditor, and the Internal Audit Office. - FY2016-Q3RestatedAnnual report
「It was recognized that the statutory auditor and internal audits were not functioning effectively in relation to the deficiencies.」
The issue of audits failing to discover and correct deficiencies in related-party transactions and other areas is restated. - FY2016-Q2First statedAnnual report
「The statutory auditor and internal audits relating to related-party transactions did not discover or correct the fact that the internal rules concerning related-party transactions were ambiguous and lacked effectiveness, nor did they discover or correct the fact that related-party transactions were being approved after the fact. As a result, the audits were not functioning effectively.」
The failure of audits to discover and correct the issues is described as an internal control problem that had already occurred.