Implementation of an Internal Management System Improvement Plan Following Improper Accounting
First written in FY2019-Q4. 4 of 6 entries say "Advanced", first in FY2019. Latest entry: FY2024.
The whole theme swung hardest in 2019: 1 of 10 companies on the "Worse" side.
13 other companies' latest entry also says "Restated".
- FY2024RestatedAnnual report
「Accordingly, our group will continue to develop and strengthen its internal management system, with all officers and employees maintaining an awareness of the issues.」
The company has reaffirmed its policy of continuing to establish and strengthen its internal control systems, legal compliance and risk management following the improper accounting. - FY2021AdvancedAnnual report
「By changing to a company with an audit and supervisory committee, the company will promote the separation of management oversight from business execution, enhance discussion of management strategy and other matters at board meetings, and work to further increase corporate value.」
As part of improvements to internal management and governance following improper accounting, the company changed to a company with an audit and supervisory committee, giving concrete form to the separation of oversight and execution and to oversight and strategic discussion by the board of directors. - FY2020AdvancedAnnual report
「The company worked to redefine the qualifications and responsibilities required, select and hire personnel possessing them, strengthen compliance awareness, strengthen and activate its governance structure and internal check functions, and correct deficiencies in its business processes and financial closing and reporting processes.」
Regarding the improvement plan, the company describes the implementation of personnel selection, training, measures concerning the board of directors, the audit committee and internal audit, authority management, business process documentation and other measures, and has subsequently submitted the Internal Management Control Confirmation Report and had the designation lifted. - FY2020-Q3AdvancedAnnual report
「This change was made as part of efforts to further strengthen the internal control system and the project management structure, because more precise project cost measurement became possible from the second-quarter consolidated accounting period, enabling the company to clarify the relationship between project revenue and costs and present its operating results more appropriately.」
As part of efforts to strengthen the internal control system and project management structure, the company implemented accounting treatment that more precisely captures project costs and presents expenses corresponding to revenue as cost of sales. - FY2019AdvancedAnnual report
「Accordingly, we formulated an improvement plan to prevent a recurrence of this situation and worked to redefine qualifications and responsibilities, select and recruit personnel with the required qualities, strengthen compliance awareness, strengthen and reinvigorate the governance structure and internal checks and balances, and correct deficiencies in our business processes and financial closing and reporting processes.」
Regarding the improvement plan formulated in the previous filing, the company states that it implemented compliance and accounting training, strengthened the internal audit office, reviewed the standards for the board of directors and the audit committee, abolished super-user privileges, documented business processes and took other measures. - FY2019-Q4First statedAnnual report
「Accordingly, the company has formulated an improvement plan to prevent a recurrence of such circumstances and will work to redefine the qualifications and responsibilities required, select and hire personnel possessing them, strengthen compliance awareness, strengthen and activate its governance structure and internal check functions, and correct deficiencies in its business processes and financial closing and reporting processes. The company plans to submit an Internal Management Control Confirmation Report one year later and undergo an examination by the Tokyo Stock Exchange.」
As measures to prevent a recurrence of improper accounting, the company newly disclosed details of an improvement plan covering personnel and compliance, the board of directors, the audit committee and internal audit, and business and financial closing processes.