Financial Services Agency sanction against auditor and continuation of audit
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 company's accounting auditor was sanctioned by the Financial Services Agency on 26 December 2023 with a 3-month suspension of operations relating to the conclusion of new contracts, from 1 January through 31 March 2024. After evaluating the auditor's efforts to implement improvements to prevent recurrence and confirming that the audit work for the company was being conducted properly and rigorously, the company consented to the auditor's reappointment in accordance with its selection policy.」
The sanction imposed on the accounting auditor by the Financial Services Agency and the decision to continue the audit after evaluating the auditor's improvement status and the appropriateness of its audit work have been reaffirmed. - FY2024First statedAnnual report
「The company's accounting auditor was sanctioned by the Financial Services Agency on 26 December 2023 with a 3-month suspension of operations relating to the conclusion of new contracts, from 1 January through 31 March 2024. After evaluating the auditor's efforts to implement improvements to prevent recurrence and confirming that the audit work for the company was being conducted properly and rigorously, the company decided to continue receiving audit services from the auditor.」
The disclosure stated for the first time that the accounting auditor had received a 3-month suspension of operations from the Financial Services Agency and that the company had decided to continue the audit engagement after evaluating the auditor's improvement efforts and the appropriateness of its audit work.