Evaluation of Administrative Sanctions Against Audit Firms and Reappointment of Auditors
First written in FY2024. 2 of 3 entries say "Mitigated", first in FY2025. Latest entry: FY2026.
The whole theme swung hardest in 2024: 23 of 67 companies on the "Worse" side.
22 other companies' latest entry also says "Mitigated".
- FY2026MitigatedAnnual report
「After comprehensively considering the content of the audit plan, the status of audit implementation and the evaluation results of the business execution divisions, among other matters, the company determined that it was appropriate to reappoint the audit firm as its accounting auditor.」
The company evaluated the audit firm's quality control, independence, expertise and audit implementation, among other matters, and disclosed its decision to reappoint the firm as auditor. - FY2025MitigatedAnnual report
「As a result, we recognize that the appropriateness of the audit work has been maintained. The Audit & Supervisory Board members and the Audit & Supervisory Board conducted an evaluation after comprehensively considering the status of audit plans and results for prior fiscal years and the results of the accounting auditor's evaluation by the business execution divisions, among other matters, and determined that it was appropriate to continue appointing the audit firm as our accounting auditor.」
After deliberating on and evaluating measures to prevent recurrence and the quality control structure of the audit firm subject to regulatory action, the company determined that reappointing the auditor was appropriate. - FY2024First statedAnnual report
「Taiyo Yuka Audit Corporation received administrative action from the Financial Services Agency on 26 December 2023, as outlined below.」
The company disclosed that the audit firm had received sanctions including a 3-month suspension of new engagements and an order to improve its operations. After evaluating audit quality and the audit structure, the Audit & Supervisory Board determined that it was appropriate to reappoint the firm as the accounting auditor for the 108th fiscal year.