The FSA announced the publication of the exposure draft “Standards for Addressing Fraud Risk in an Audit (Provisional Translation)”

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On December 21, 2012, the Audit Committee of the Business Accounting Council, an advisory council under the Japanese Financial Service Agency (FSA) has published the exposure draft “Standards for Addressing Fraud Risk in an Audit (Provisional Translation).”

The exposure draft proposes to introduce new auditing standards that require more effective audit procedures to address fraud causing material misstatement on financial statements and to apply the standards to the audit of the listed companies’ financial statements for the year ending March 31, 2014 and thereafter.

Comment deadline of the exposure draft is January 25, 2013.

The FSA announced the publication of the exposure draft “Standards for Addressing Fraud Risk in an Audit (Provisional Translation)”


The original document is available at FSA website.