Administrative action against the external auditor and measures to maintain audit reliability
First written in FY2024. 1 of 2 entries say "Materialised", first in FY2024. Latest entry: FY2025.
24 other companies' latest entry also says "Mitigated".
- FY2025MitigatedAnnual report
「The company evaluated Taiyo LLC's efforts to implement improvements aimed at preventing recurrence and determined that its audit of the company was being conducted appropriately and rigorously, and that there was no issue with continuing to have Taiyo LLC conduct the audit going forward.」
Regarding the external auditor that received administrative action, the company evaluated its efforts to prevent recurrence and the appropriateness of its audit work, and stated that it had determined there was no issue with continuing the audit. - FY2024MaterialisedAnnual report
「Taiyo LLC received an administrative suspension order from the Financial Services Agency dated 26 December 2023. The details are as follows: Details of the action: suspension for 3 months of services relating to entering into new contracts, from 1 January 2024 through 31 March 2024; and an order to improve operations, including its operational management framework.」
The company disclosed that its external auditor had received a 3-month administrative suspension and other measures from the Financial Services Agency. After receiving a report and explanation, the company determined that there would be no immediate impact on its audit and that audit reliability would be maintained.