Administrative Sanctions Against Audit Firms and Continued Appointment
First written in FY2024. 1 of 2 entries say "Restated". Latest entry: FY2025.
The whole theme swung hardest in 2024: 17 of 54 companies on the "Worse" side.
20 other companies' latest entry also says "Restated".
- FY2025RestatedAnnual report
「The Audit & Supervisory Board received an explanation from Taiyo Yugen Sekinin Audit Corporation regarding the business suspension and other administrative action imposed on the firm, conducted an evaluation based on the "Evaluation and Selection Criteria for Accounting Auditors" established by the Audit & Supervisory Board, and held discussions.」
The Company heard an explanation from Taiyo Yugen Sekinin Audit Corporation regarding the Financial Services Agency's administrative action, conducted an evaluation and held discussions, and continued its appointment in consideration of the implementation of the operational improvement plan and the firm's familiarity with the Company's operations. - FY2024First statedAnnual report
「Taiyo Yuden? Limited Liability Audit Corporation received administrative action from the Financial Services Agency dated 26 December 2023. The details are as follows: suspension of operations related to entering into new contracts for 3 months, from 1 January 2024 to 31 March of the same year; and an order to improve operations, including its operational management framework.」
The disclosure identifies, as a standalone topic for the first time, the fact that the audit firm received a 3-month business suspension and an order to improve operations, among other measures, from the Financial Services Agency. After receiving an explanation and conducting an evaluation and discussions, the Audit & Supervisory Board continued to appoint the audit firm in consideration of its efforts to improve audit quality and familiarity with the Company's operations.