Japan's Financial Services Agency: Public Consultation On The Exposure Draft Of The Revision Of The Audit Standards

The Audit Standard Committee of the Business Accounting Council (Chairman: Mr. Takatoshi Iyoda, Professor of the Center for Education in General Studies at Konan University) has published the Exposure Draft of the revision of the Audit Standards.
 
In recent years, public confidence in audits has been broadly discussed. In order to ensure confidence, it has been noted that additional information on audits should be provided for users of the financial statements.
 
From the viewpoint of enhancing the transparency of audits, the Audit Standard Committee of the Business Accounting Council has published the Exposure Draft of the revision of the Audit Standards, which requires “Key Audit Matters” in the independent auditor’s reports and invites public comments on the requirements.
 
We have summarized the Exposure Draft of the revision of the Audit Standards as follows;

（Annex）Summary of the Exposure Draft of the Revision of the Audit Standards (Introduction of KAMs)(PDF：32KB)