Administrative action against audit firm and decision to continue the audit
First written in FY2024. 1 of 3 entries say "Restated". Latest entry: FY2025.
The whole theme swung hardest in 2024: 24 of 70 companies on the "Worse" side.
24 other companies' latest entry also says "Mitigated".
- FY2025MitigatedAnnual report
「Taiyo Audit Corporation reported that, in response to the action, it submitted a business improvement plan to the Financial Services Agency in January 2024 and worked to implement improvements. The Financial Services Agency recognized that a certain degree of improvement had been achieved, and the corporation reported that its business improvement reporting to the agency ended in July 2024.」
The company states that improvements were recognized after the audit firm submitted its business improvement plan and that its business improvement reporting to the Financial Services Agency ended in July 2024. The Audit and Supervisory Committee determined that there was no direct impact on the company's audit or on the firm's eligibility to serve as its accounting auditor. - FY2025-H1RestatedAnnual report
「During the interim accounting period, there were no material changes in the matters described in this interim report concerning the status of the business, financial position and other matters that could have a material impact on investors’ decisions, or in the “Business and Other Risks” described in the annual securities report for the previous fiscal year.」
The company concludes that there have been no material changes concerning the risk related to the administrative action against the audit firm and the decision to continue the audit. - FY2024First statedAnnual report
「Taiyo Audit Corporation received a business suspension order from the Financial Services Agency dated 26 December 2023. An overview is provided below. 2) Details of the action: Suspension for three months of services relating to the execution of new contracts, from 1 January 2024 through 31 March of the same year.」
The company discloses that its audit firm received a three-month business suspension order from the Financial Services Agency. It also states that the Audit and Supervisory Committee determined that the order had no direct impact on the company's audit and did not affect the firm's eligibility to serve as its accounting auditor.