Assurance Services

We help clients boost their corporate value through "Core Assurance", including financial audits and other types of assurance services customised by industry type, "Financial Reporting Advisory" in which we provide assistance with IFRS and IPOs, and "Risk Controls Solutions" that include internal control optimization and internal audits. All of these services are performed by industry experienced teams capable of providing services that are highly specialised for the needs and risks of each client's particular industry.

Audits of Financial Statements

PricewaterhouseCoopers Aarata conducts auditing and other assurance services with teams organised by industry, allowing it to provide highly specialised services that take into account the unique risks and challenges prevalent in each client's particular industry.

• Audits of Financial Statements Prepared in Accordance with Accounting Standards in Japan
  • Audits under the Financial Instruments and Exchange Law
  • Audits under the Corporate Law
  • Audits under specific industry laws such as Insurance Business Law or Investment Trust Law
  • Audits of pre-IPO companies' financial statements
  • Audits of Special Public Corporations
  • Others
• Audits of Financial Statements Prepared in Accordance with Overseas Accounting Standards
  • Audits conducted in accordance with International Standards on Auditing (ISA)
  • Audits conducted in accordance with U.S. auditing standards

Audits of Internal Controls

We deliver internal controls audit in accordance with Section 404 of the US Sarbanes-Oxley Act (SOX), Financial Instruments and Exchange Act of Japan (J-SOX), and other laws and regulations.

• Internal controls audits in accordance with
  • Financial Instruments and Exchange Act (J-SOX)
  • Section 404 of the US SOX
  • Other laws and regulations
• Third-party assurance and other assurance services
  • Internal controls audit of service organizations in accordance with JICPA Auditing Standards Committee Statement 18, U.S. Statement on Auditing Standards [SAS] 70 and other relevant standards
  • Trust services (SysTrust, WebTrust)
  • Agreed-Upon Procedures
• Internal Control Optimization (ICO) advisory service

Other Assurance Services

In addition to audits of financial statements and audits of internal controls, PricewaterhouseCoopers Aarata provides diverse assurance services including the assessment of control risks for service organisations and the issuance of comfort letters.

• Assessment of control risks for service organisations (based on SAS 70 and Auditing Standards Committee Statement 18)
• Assuance of comfort letters (based on SAS 72 and Auditing and Assurance Practice Committee Statement 68)
• Examination of equity capital regulation ratios (securities companies)
• Examination related to segregated custody of client assets
• Verification based on the Security Analysts Association of Japan's Investment Performance Standards (SAAJ-IPS)
• AICPA/CICA Trust services
• Others

Financial Reporting Advisory

FRA's services range from financial reporting advisory services based on the International Financial Reporting Standards (IFRS) and the US Generally Accepted Accounting Principles (US GAPP), advisory services related to internal control and other financial reporting systems, and support for Initial Public Offering (IPO).

• Support for IFRS conversion
• Support for US GAAP conversion
• Support for the establishment of financial reporting structures
• Support for compliance with Section 404 of the US Sarbanes-Oxley Act
• Support for compliance with 〝Management Assessment and Audit concerning Internal Control Over Financial Reporting〝 under the Financial Instruments and Exchange Act (J-SOX)
• Support for the improvement of operational processes and internal controls
• Support for the establishment of an internal auditing structure
• Support for IPOs in Japan by Japanese companies
• Support for IPOs in Japan by foreign companies
• Support for overseas financing by Japanese companies

Systems and Process Assurance

Based on past records and experience amassed in internal control audit compliant with US and Japanese internal control regulations, PricewaterhouseCoopers Aarata caters to clients' diverse internal control process and IT utilisation needs.

• Internal control services compliant with Section 404 of the US Sarbanes-Oxley Act or the Financial Instruments and Exchange Act.
  • Review of general IT controls and controls review of operational and IT processes
  • Preparatory services for the introduction of J-SOX or Section 404 of the US Sarbanes-Oxley Act, and services to help improve and maintain processes (optimisation)
• Services related to information security
  • Reviews of information security policy and administrative procedures, Information security review around computers, database and network, Information security audit and support for attaining ISO 27001 certification
• Third-party assurance and other assurance services
  • Reports based on the US Statement on Auditing Standards (SAS) 70 or JICPA Auditing Standards Committee Statement. No. 18
  • AICPA/CICA Trust services
• Data application services
  • Implementation of Computer Assisted Auditing Techniques (CAATs), and Data quality review
  • XBRL-compliant advisory services
• Review of compliance with other laws and regulations
  • Financial Inspections Manual, Laws Regarding the Protection of Personal Information, Business Continuity Plan/Disaster Recovery Plan
  • Review of Proprietary Trading Systems and Support for Privacy Mark certification
• Audits of IT systems and controls upon mergers and acquisitions
• Pre- and post-introduction review of information systems and IT governance
• Project evaluation services

Internal Audits

PricewaterhouseCoopers Aarata provides solutions to its clients' internal audit related problems through services that range from supporting the establishment of an internal audit structure, supplying personnel (for example, through outsourcing), and supporting the introduction of internal audit tools as well as the training of internal audit personnel.

• Support for the establishment of an internal audit structure
• Outside evaluation of internal audits (Quality Assurance Review)
• Support for the introduction of internal audit tools
• Outsourcing and co-sourcing of internal audits (including system audits, data audits, risk audits, environmental audits, license audits, and fraud audits)
• Support for training internal audit personnel (training and development, etc.)

Risk and Regulatory Advisory Services

The Risk and Regulatory Advisory (RRA) department employs specialists in areas including risk management, governance compliance, and crisis management, who draw on lengthy experience and the most up-to-date information utilising PwC's global network to respond to the business strategies of clients.

• Support for the establishment and review of management policies (qualitative aspects) as well as risk calculation (quantitative aspects) of market risk, credit risk, operational risk, integration risk, and equity capital
• Support for the establishment and review of market value assessment methods for financial products using quantitative models
• Support for the establishment and review of management policies and risk calculations for compliance with Basel II (internal rating methods for credit risk, gross profit allocation and advanced measurement of operational risk, compliance with the second and third pillars)
• Advisory services for the advancement of risk management in response to new solvency restrictions
• Advisory services regarding Japanese and overseas regulations affecting financial institutions (financial inspections manuals, financial appraisal systems, compliance with supervisory guidelines, compliance with inspections and directives of supervisory authorities)
• Support for the establishment of corporate governance and compliance policies and for the establishment and implementation of internal audit policies relating to corporate governance and compliance
• Advisory services relating to integration of internal controls for the financial reporting of financial institutions (i.e. compliance with J-SOX) with operational risk management policies
• Support for the establishment and review of policies regarding money laundering
• Investigation and analysis of fraud and/or pending legal matters (support for internal investigative committees regarding litigation, specific scandals or incidents)

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