Administrative Action Against the Audit Firm and Monitoring of Audit Quality Improvements
First written in FY2024. 1 of 2 entries say "Mitigated", first in FY2025. Latest entry: FY2025.
The whole theme swung hardest in 2024: 17 of 54 companies on the "Worse" side.
18 other companies' latest entry also says "Mitigated".
- FY2025MitigatedAnnual report
「As a result, the Audit Committee determined that it was appropriate to reappoint the audit firm as the accounting auditor for the 26th fiscal year, taking into consideration that the audit firm had submitted an operational improvement plan to the Financial Services Agency on 31 January 2024 and was working to improve audit quality and prevent recurrence, and that audit services for the company were being performed appropriately and rigorously.」
It states that, following regulatory action against the audit firm, the company evaluated its operational improvement plan and efforts to improve audit quality and reappointed the accounting auditor. - FY2024First statedAnnual report
「The company's current accounting auditor received a business suspension order from the Financial Services Agency dated 26 December 2023」
It discloses that the accounting auditor received a 3-month business suspension, an order to improve operations and other sanctions, and states that the Audit Committee decided to reappoint the auditor following its explanation and evaluation.