The CPAAOB reviews and examines reports of quality control reviews by the JICPA
and, if deemed necessary, conducts on-site inspections of the JICPA, audit
firms, etc.
If the results of oversight show that quality control reviews have not been
conducted properly, that the quality control of audits of CPAs/audit firms has
been notably insufficient, or that their audit engagements have not conformed to
laws, regulations and standards, the Board will recommend that the Commissioner
of the Financial Services Agency take administrative actions and/or other
measures necessary to ensure the proper operation of the JICPA and audit firms.
|
