Monitoring administrative sanctions against the audit firm and remediation
First written in FY2024. 1 of 2 entries say "Mitigated", first in FY2025. Latest entry: FY2025.
22 other companies' latest entry also says "Mitigated".
- FY2025MitigatedAnnual report
「The audit committee members and the Audit & Supervisory Board evaluate the accounting auditor and have confirmed that its audits are being conducted appropriately. The Audit & Supervisory Board resolved to confirm the reappointment of the accounting auditor, conducting a comprehensive evaluation based on the Japan Audit & Supervisory Board Members Association's practical guidelines on establishing evaluation and selection criteria for accounting auditors.」
States that the audit was confirmed to be appropriate and that the audit firm's reappointment was evaluated after the administrative sanctions. - FY2024First statedAnnual report
「Taiyo Yugen Sekinin Kansa Hojin was sanctioned by the Financial Services Agency on 26 December 2023. The outline is as follows: suspension of operations for new engagements for three months, from 1 January to 31 March 2024; and an order to improve operations and management systems.」
Discloses the audit firm's actual administrative sanctions, including a three-month suspension and an improvement order. After explanations and confirmation, the Company determined that its audit would not be affected and will continue receiving reports on remediation.