The Financial Services Agency (FSA) has started reviewing the "internal control reporting system," which allows listed companies to check the reliability of their financial reporting and internal control systems, as there are cases where it is not being used properly. rice field.
The "internal control reporting system" is a system in which listed companies are obliged to check the reliability of financial reports and internal control systems themselves and submit reports to the government. It was introduced in 2008 after a series of
However, there are cases in which the system is not properly utilized, such as fraud being discovered after the report has been submitted. started.
At the meeting on the 13th, the Financial Services Agency strengthened the role of auditors and asked companies to include details of discussions with management in reports and to correct reports when inappropriate cases were discovered. Points of contention for system reform, such as disclosure of the reasons, were presented.
Based on the results of the discussions, the FSA will also consider revising the criteria used by companies to evaluate their internal control systems.