Audit Firm Business Suspension Order and Decision on Continuing the Audit Engagement
First written in FY2024. 3 of 4 entries say "Restated". Latest entry: FY2027-H1.
The whole theme swung hardest in 2024: 17 of 54 companies on the "Worse" side.
20 other companies' latest entry also says "Restated".
- FY2027-H1RestatedAnnual report
「Pursuant to Article 193-2, Paragraph 1 of the Financial Instruments and Exchange Act, the Company has undergone an interim review by Taiyo LLC of the condensed interim consolidated financial statements for the interim consolidated accounting period from 1 March 2026 to 31 August 2026.」
The Company continues to undergo an interim review by Taiyo LLC, for which an administrative disciplinary action involving a business suspension was disclosed. No change of audit firm or new assessment has been disclosed. - FY2025RestatedAnnual report
「Taiyo Audit Corporation received a business suspension order from the Financial Services Agency dated 26 December 2023,」
The business suspension order against the audit firm, the continuation of audits by the same audit firm, and the assessment that there were no grounds for non-reappointment continue to be disclosed. - FY2025-Q1RestatedAnnual report
「Pursuant to Article 193-2, Paragraph 1 of the Financial Instruments and Exchange Act, the company has undergone a quarterly review by Taiyo Audit Corporation of its condensed quarterly consolidated financial statements for the first quarter consolidated accounting period (from 1 March 2024 through 31 May 2024) and the first quarter consolidated cumulative period (from 1 March 2024 through 31 May 2024).」
The disclosure states that the company underwent a quarterly review by Taiyo Audit Corporation, for which a business suspension order had been disclosed in the previous fiscal year. No new assessment or change concerning the audit firm's continued appointment was indicated. - FY2024First statedAnnual report
「Taiyo Audit Corporation received a business suspension order from the Financial Services Agency dated 26 December 2023. An outline is provided below. ...Suspension of activities related to entering into new contracts: 3 months (from 1 January 2024 through 31 March of the same year)」
The Financial Services Agency's 3-month business suspension order against the audit firm was disclosed as a new audit-related risk. The company nevertheless determined that it had an appropriate and reasonable system for conducting its accounting audit and assessed that there were no grounds for not reappointing the audit firm.