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. |