The Form of Audit Reports

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business report etc and the auditing for accounting related documents by. kansayaku or the kansayaku kai are closely related and have much in common. Therefore in the Form the form of preparation that was adopted as a basic method. of preparation which combines the audit report concerning the business report. etc the audit report concerning accounting documents for each business year. and the annexed specification hereinafter referred to as accounting documents. etc and the audit report concerning consolidated accounting documents into. one audit report Under the laws and regulations while four weeks are allocated as. the audit period for the kansayaku kai for the business report etc there are four. weeks allocated as the audit period for an accounting auditor and one week. allocated as the audit period for the kansayaku kai thereafter for accounting related. documents Therefore in the event of the preparation of the three audit reports. noted above together in one document as provided for in the Form please note that. there are occasions where the period for the audit for the business report etc must. be extended by agreement with the specified directors. With respect to the method of preparation of the kansayaku kai audit. report other than as noted above it is also possible to i prepare an audit report. concerning the business report etc and an audit report concerning accounting. documents etc together as one document and to prepare an audit report. concerning consolidated accounting documents separately ii prepare the audit. report concerning business report etc independently and to prepare the audit. report concerning accounting documents etc and the audit report concerning. consolidated accounting documents together as one document or iii prepare all of. these three audit reports separately, Therefore in the Form while adopting the form of preparation of combining. all the audit reports together as a basic method of preparation in order to respond. to companies which i intend to select the method of preparation of the audit report. concerning consolidated accounting documents separately and independently or ii. are not required to prepare the consolidated accounting documents in the first. place etc the method of addressing such cases is explained by the notes affixed to. the Form and examples of statements in cases where audit reports concerning. consolidated accounting documents were prepared separately and independently. are found in the Reference Materials, 3 In the case of companies with kansayaku kai each kansayaku shall prepare. his her respective audit report and the audit of the kansayaku kai is formed by. combining the contents of each kansayaku s audit report to be provided to the. shareholders However each kansayaku s audit report shall also be the subject of. safekeeping and inspection In light of the law requiring that each kansayaku and. the kansayaku kai respectively prepare the audit report the Form adopts a style for. each kansayaku to prepare their respective audit report and demonstrates the. forms to be used by full time kansayaku and part time kansayaku. It is also understood that the preparation of the audit report in one. document which combines the audit reports of the kansayaku kai and each. kansayaku may be possible In cases where the audit reports are combined in one. document it is desirable that the scope the method and the contents etc of each. kansayaku s audit are clarified, In the case of companies without a kansayaku kai each kansayaku shall. also prepare an audit report With respect to the audit report to be provided to the. shareholders in place of the method of providing the shareholders with the audit. reports of each kansayaku it is possible to prepare one audit report combining the. audit reports of each kansayaku and provide the shareholders with the one. combined audit report The Form demonstrates this form of combined audit report. 4 With respect to the method and the contents of the audit in the audit. report the method of the audit actually conducted by kansayaku must be. described clearly and briefly so that the reliability of the audits may be accurately. determined In the Form the method and the contents of audits which are. considered to be generally conducted are indicated However the method and the. contents of the audit are expected to vary due to the differences in each company s. organizational structure and internal control systems etc and the assignment of. the duties of kansayaku In the Form notes are added where various descriptions. of the audit methods are expected and explanations are added where needed. Please prepare the audit reports with reference to these notes. Needless to say the audit report is prepared with the assumption that the. kansayaku fulfill the duty of care The Kansayaku must clarify the standards of. the audit and keep records of the audit and the minutes of the kansayaku kai etc. to substantiate the performance of this duty, 5 In the event the kansayaku kai prepares the audit report the kansayaku kai. must deliberate the contents of the kansayaku kai audit report once or more by. holding meeting s or by a method in which opinions can be exchanged. simultaneously by the transmission and reception of information. 6 The Form is targeted at companies with a board of directors Please also. prepare the audit report with reference to the Form in the case of companies. organized without the board of directors, 7 In cases where extraordinary accounting documents are prepared by.
companies kansayaku or the kansayaku kai must prepare an audit report. concerning such extraordinary accounting documents Even though extraordinary. accounting documents may be prepared by companies without a board of directors. a kansayaku kai or an accounting auditor if the companies are companies with. kansayaku including in the event that the scope of the audit of kansayaku is. limited to those documents concerning accounting the Form only lists the form of. the audit report to be provided to the shareholders by companies whose. organizational structure is a board of directors kansayaku kai accounting. auditor Therefore please prepare the audit report to be provided to the. shareholders and the audit report by each kansayaku with reference to the Form in. the case of companies with a different organizational structure to that noted above. Table of Contents,I Audit report to be provided to shareholders. 1 In the case of a company with board of directors kansayaku kai. accounting auditor, 2 In the case of a company with board of directors kansayaku accounting. 3 In the case of a company with board of directors kansayaku. 4 In the case of a company with board of directors kansayaku in the event. that the scope of the audit is limited to an audit concerning accounting. 5 Audit report on extraordinary accounting documents in the case of a. company with board of directors kansayaku kai accounting auditor. II Audit report to be prepared by each kansayaku, 1 In the case of a company with a board of directors kansayaku kai. accounting auditor,1 In the case of a full time kansayaku. 2 In the case of a part time kansayaku, 2 In the case of a company with board of directors kansayaku accounting.
3 In the case of a company with board of directors kansayaku. 4 In the case of a company with board of directors kansayaku in the event. that the scope of the audit is limited to an audit concerning accounting. 5 Audit report on extraordinary accounting documents in the case of a. company with board of directors kansayaku kai accounting auditor. 1 In the case of a full time kansayaku,2 In the case of a part time kansayaku. Reference Materials,Audit report to be provided to shareholders. A Audit report on consolidated accounting documents in the case of a company. with board of directors kansayaku kai accounting auditor. B Audit report on consolidated accounting documents in the case of a company. with board of directors kansayaku accounting auditor. Audit report to be prepared by each kansayaku, C Audit report on consolidated accounting documents in the case of a company. with board of directors kansayaku,1 In the case of a full time kansayaku. 2 In the case of a part time kansayaku, D Audit report on consolidated accounting documents in the case of a company.
with board of directors kansayaku accounting auditor. I Audit report to be provided to shareholders, 1 In the case of a company with board of directors kansayaku. kai accounting auditor Note 1,To Mr Representative Director President. Co Ltd Note 2,Kansayaku kai Note 3,Submission of Audit Report. The kansayaku kai has prepared this audit report in accordance with the. provisions of Article 390 paragraph 2 item 1 of the Companies Act of Japan and. submits the report as per the enclosure Note 4,Audit Report. With respect to the directors performance of their duties during the th. business year from to the kansayaku kai has prepared this. audit report after deliberations Note 5 based on the audit reports prepared by. each kansayaku and hereby report as follows, 1 Method and Contents of Audit by Kansayaku and the Kansayaku kai Note.
The kansayaku kai has established the audit policies Note 7. assignment of duties Note 8 etc and received a report from each. kansayaku regarding the status of implementation of their audits and results. thereof In addition the kansayaku kai has received reports from the. directors etc and the accounting auditor regarding the status of. performance of their duties and requested explanations as necessary. In conformity with the kansayaku auditing standards established by. the kansayaku kai Note 9 and in accordance with the audit policies and. assignment of duties Note 10 etc each kansayaku endeavored to facilitate. a mutual understanding with the directors the internal audit division Note. 11 and other employees etc endeavored to collect information and. maintain and improve the audit environment Note 12 has attended the. meetings of the board of directors and other important meetings received. reports on the status of performance of duties from the directors and other. employees Note 13 and requested explanations as necessary examined. important approval decision documents and inspected the status of the. corporate affairs and assets at the head office and other principal business. locations Also each kansayaku monitored and inspected the status of i. the contents of the board of directors resolutions regarding the development. and maintenance of the system to ensure that the directors performance of. their duties complied with all laws regulations and the articles of. incorporation of the company and other systems that are set forth in Article. 100 paragraphs 1 and 3 of the Ordinance for Enforcement of the Companies. Act of Japan as being necessary for ensuring the appropriateness of the. corporate affairs of a joint stock company kabushiki kaisha and ii the. systems internal control systems Note 14 based on such resolutions The. contents of the basic policies set forth in Article 127 item 1 of the Ordinance. for Enforcement of the Companies Act of Japan and undertakings set forth in. item 2 of said article as described in the business report were also. considered in light of the circumstances etc of deliberations by the board of. directors and other bodies Note 15 With respect to the subsidiaries each. kansayaku endeavored to facilitate a mutual understanding and exchanged. information with the directors and kansayaku etc of each subsidiary and. received from subsidiaries reports on their respective business as necessary. Note 16 Based on the above described methods each kansayaku. examined the business report and annexed specifications for the business. year under consideration, In addition each kansayaku monitored and verified whether the. accounting auditor maintained its independence and properly conducted its. audit received a report from the accounting auditor on the status of its. performance of duties and requested explanations as necessary Each. kansayaku was notified by the accounting auditor that it had established a. system to ensure that the performance of the duties of the accounting. auditor was properly conducted the matters listed in the items of Article. 159 of the Company Accounting Regulations in accordance with the Quality. Control Standards for Audits Business Accounting Council on October 28. 2005 and requested explanations as necessary Note 17 Based on the. above described methods each kansayaku examined the accounting. documents balance sheet profit and loss statement shareholders equity. variation statement and schedule of individual notes Note 18 and the. annexed specifications thereto as well as the consolidated accounting. documents consolidated balance sheet consolidated profit and loss. statement consolidated shareholders equity variation statement and. schedule of consolidated notes for the business year under consideration. 2 Results of Audit Note 19,1 Results of Audit of Business Report etc. i We acknowledge that the business report and the annexed. specifications thereto fairly present the status of the Company in. conformity with the applicable laws and regulations and the articles of. incorporation of the company, ii We acknowledge that no misconduct or material fact constituting a. The Form of Audit Reports Japan Corporate Auditors Association there are four weeks allocated as the audit period for an accounting auditor and one week

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