August 10, 2023
Certified Public Accountants and Auditing Oversight Board
Publication of the English version of
"2023 Monitoring Report"
The original Japanese version was published on July 14, 2023.
2023 Monitoring Report (English) (PDF:4.92MB)
2023 Monitoring Report Key Points (English) (PDF:1.82MB)
Introduction (PDF:87KB)
I. Overview of the Audit Sector(PDF:1.15MB)
II. The CPAAOB Monitoring(PDF:728KB)
III. Operation of Audit Firms(PDF:1.20MB)
IV. Responses to Changes in the Global Environment Surrounding Audits(PDF:243KB)
<Structure of the report>
The Report comprises the following four sections (I-IV)
I. Overview of the Audit Sector
This part presents the overview of certified public accountants (CPAs) and audit firms, audited companies. We have added the status of audit firms’ responses to the revised Standard on Quality Control of Audits.
II. The CPAAOB Monitoring
This part presents a whole picture of CPAAOB’s monitoring including inspection. In addition to updating information related to monitoring, we have elaborated the Basic Plan for Monitoring Audit Firms and so forth in the program year 2022.
III. Operation of Audit Firms
This part presents the structure of audit firms and their operation, including the status of digitalization of audit and group audit. This part also presents the status of changes of accounting auditors and variations of audit fee .In addition to updating data concerning the operation of audit firms, we have added the amendments to Audit Firm Governance Code.
IV. Responses to Changes in the Global Environment Surrounding Audits
This part presents the changes of regulations and institutions caused by recent movement of audit environment. We have described the changes related to small and mid-sized audit firms whose responsibility as auditors of domestic listed companies became more significant recently. We have also described the movement of the disclosure and assurance of sustainability.
Contact:
Monitoring and Inspection Division
Certified Public Accountants and Auditing Oversight Board
3-2-1 Kasumigaseki, Chiyoda-ku, Tokyo 100-8905 Japan
Email: iiu.cpaaob@fsa.go.jp