Faced with a changing society and business driven by the rapidly advanced technologies, such as IoT/E and Artificial Intelligence, Japanese companies are expected to be innovative in order to accomplish their further growth. Moreover, faced with a significantly changing society around the world, companies are addressing critical challenges to gain a “trust” from the society struggling with low foreseeability.
This is the same in the audit industry and proactive changes, including discussion on implementation of the “Audit Firm Governance Code” and establishment of a permanent secretariat of the International Forum of Independent Audit Regulators (IFIAR) in Tokyo, have been undertaken in order to improve audit reliability in the economic/social infrastructure. Our firm is also actively implementing various efforts to enhance our audit quality through dialogues with regulators and related associations, the establishment of “Public Interest Body” to seek feedbacks from external experts on our initiatives to manage audit quality, investments in enhancing data analytical methods and developing tools, the establishment of “AI Audit Lab” for exploring the possibility of using AI in audit, and ongoing issuances of “Transparency Report for Audit Quality”.
PwC defines the relevance of PwC Network as, "Build trust in society and solve important problems". Our firm also aims to become number one in five strategic priority areas including our quality of services, our resources, our audit service income expansion/growth, our brands/presence, and our profitability/transformation.
To accomplish these goals, we share common values and change our mindset and behaviors. Specifically, we share our values around the world by practicing following behaviors: Act with integrity, Make a difference, Care, Work together, and Reimagine the possible. We establish Code of Conduct based on these values and promote our changes with our members of the PwC Global Network, which has more than 223,000 people in 157 countries.
As professionals with expertise and ethics, we are also required not only to be in compliance with the laws, regulations and audit standards, but also to exercise professional skepticism on the basis of in-depth understanding of the business when conducting an audit. It is also important for each professional of our firm to refine knowledge and insight from global perspectives. On the basis of such ability, we are striving to be a “Reliable Business Partner” who has an ability to meet clients’ needs in a timely and an appropriate manner, and to achieve “Contribution to Creation of Corporate Value”. We contribute to the sound development of the economic/social infrastructure and financial capital markets in Japan by providing high quality audit services. At the same time, our firm also focuses on transformation to enhance our quality of services with innovative approach, differing from current approach.
Although the environment surrounding the audit industry and its stakeholders are at the phase of massive changes, our social mission remains the same. Rather, being in the era of reform, we have more clear sense of mission. As our name "Aarata" (which means "new" in Japanese) suggests, our firm continues to take on “new” challenges and makes constantly endeavors to be a truly valuable and trusted partner for all of our stakeholders.
Koichiro Kimura, CEO
Hitoshi Kiuchi, COO