December 23, 2022
Certified Public Accountants and Auditing Oversight Board

2022 Monitoring Report (English) (PDF:4.34MB)
2022 Monitoring Report Key Points (English) (PDF:643KB)


Introduction (PDF:85KB)
I. Overview of the Audit Sector(PDF:1.82MB)
II. The CPAAOB Monitoring(PDF:827KB)
III. Operation of Audit Firms(PDF:1.17MB)
IV. Responses to Changes in the Global Environment Surrounding Audits(PDF:1.3MB)

<Structure of the report>
The Report comprises the following four sections (I-IV)

I. Overview of the Audit Sector
We have updated information on the overview of certified public accountants (CPAs) and audit firms, audited companies and audits of initial public offerings (IPOs) and so forth.

II. The CPAAOB Monitoring
In addition to updating information related to monitoring, we have elaborated the Basic Policy for Monitoring Audit Firms for the CPAAOB's 7th Cycle (April 2022 - March 2025) and the Basic Plan for Monitoring Audit Firms and so forth in the program year 2022.

III. Operation of Audit Firms
In addition to updating data concerning the operation of audit firms, we have altered the column about remote work adopted by audit firms in accordance with the present circumstances.
 
IV. Responses to Changes in the Global Environment Surrounding Audits
Based on recent changes in the environment surrounding auditing, we have updated information about the impacts of and responses to the spread of COVID-19, responses to key audit matters (KAMs), and other recent trends related to auditing, and described an example of an audit firm's structure relating to the reporting of KAMs.

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

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