Decision to Continue the Audit in Light of Administrative Action Against the Audit Firm
First written in FY2024. 1 of 2 entries say "Mitigated", first in FY2025. Latest entry: FY2025.
The whole theme swung hardest in 2024: 17 of 54 companies on the "Worse" side.
18 other companies' latest entry also says "Mitigated".
- FY2025MitigatedAnnual report
「At a meeting of the Audit and Supervisory Committee held on 14 February 2025, the company considered whether it was appropriate to reappoint the accounting auditor and determined that Taiyo Audit Corporation should be reappointed as the accounting auditor for the 40th fiscal year,」
In light of the administrative action against the audit firm disclosed in the previous fiscal year, the company decided to reappoint the audit firm after considering the audit structure, independence and expertise, among other factors. - FY2024First statedAnnual report
「The Financial Services Agency imposed administrative sanctions, including a business improvement order, dated 26 December 2023, on our audit firm, Taiyo Audit Corporation (hereinafter, “Taiyo”). The Audit and Supervisory Committee therefore considered whether to continue engaging Taiyo to audit the 39th fiscal year, and decided to continue the engagement for the following reasons.」
Following the Financial Services Agency’s business improvement order and other measures against the audit firm, the company disclosed its decision to continue the audit engagement after considering the business improvement plan, the nature of the matter leading to the sanctions and the audit structure.