Exchange of Letters on cooperation in the area of audit
oversight with the Haut Conseil du commissariat aux comptes (H3C) in France

1. The Certified Public Accountants and Auditing Oversight Board (CPAAOB) and the Financial Services Agency (FSA) exchanged the Letters on cooperation in the area of audit oversight with the Haut Conseil du commissariat aux comptes (H3C) in France on April 15, 2016.
   • Letter on cooperation in the area of audit oversight (English) (PDF:3,755KB)
   • Letter on cooperation in the area of audit oversight (Japanese) (PDF:3,410KB)
2. Given the global nature of capital markets, this exchange of Letters intends to strengthen and facilitate cooperation between both authorities in order to protect investors and to help promote public trust in audit process in the capital markets of both countries.
3. Through this exchange of Letters, each authority is able to share information upon request, related to auditors that fall within the regulatory jurisdiction of both authorities.
4. The contents of the Letters include, but are not limited to, the following:
   • that the authorities may exchange information related to audit oversight such as outcome of inspections and investigations, etc.;
   • that the authorities will use their best endeavors to notify one another, prior to or immediately after taking any significant oversight measures, in respect of relevant auditors that are registered/notified or seek registration/notification in the other’s jurisdiction; and
   • other descriptions such as confidentiality of information exchanged, etc.