Internal control concerns stemming from FUNtoFUN sales transactions
First written in FY2019. 2 of 4 entries say "Materialised", first in FY2019. Latest entry: FY2020.
No other company in this theme has enough history to compare yet.
- FY2020RestatedAnnual report
「The company recorded ¥83.234 million as special investigation expenses and related costs, including the investigation expenses of a third-party committee and additional audit fees, concerning the inappropriate recognition of sales at a consolidated subsidiary during the fiscal year ended June 2019.」
Expenses for the third-party committee investigation and additional audit work concerning inappropriate sales recognition at a subsidiary were also recorded in the current fiscal year, with the financial impact of the internal control concerns continuing to be disclosed. - FY2020-Q3RestatedAnnual report
「The company recorded ¥83.234 million as special investigation expenses and related costs, including the investigation expenses of a third-party committee and additional audit fees, concerning the inappropriate recognition of sales at a consolidated subsidiary during the fiscal year ended June 2019.」
The company continued to record ¥83.234 million in expenses related to the third-party committee investigation and additional audit work concerning inappropriate sales recognition during the cumulative third quarter of the current consolidated fiscal year. - FY2020-Q1MaterialisedAnnual report
「The company recorded ¥83.734 million as special investigation expenses and related costs, including the investigation expenses of a third-party committee and additional audit fees, concerning the inappropriate recognition of sales at a consolidated subsidiary during the fiscal year ended June 2019.」
In connection with the third-party committee investigation into inappropriate sales recognition, investigation expenses, additional audit fees and other costs totaling ¥83.734 million were recorded as extraordinary losses. The financial impact of the internal control concerns also emerged in the current quarter. - FY2019MaterialisedAnnual report
「During the consolidated fiscal year, a sales transaction related to consulting services at consolidated subsidiary FUNtoFUN株式会社 led to the establishment of a third-party committee on 2 August 2019. The investigation findings indicated concerns regarding internal controls.」
The company disclosed for the first time that a third-party committee had been established in connection with a sales transaction related to consulting services at FUNtoFUN株式会社 and that the investigation findings had indicated concerns regarding internal controls.