Readout on the PCAOB’s Tokyo Meetings With Counterparts in Japan

Today, PCAOB Chairman Demetrios (Jim) Logothetis concluded a four-day working visit to Japan. During the visit, Chairman Logothetis attended a Board Meeting of the International Forum of Independent Audit Regulators (IFIAR) in Tokyo. He also met with Mr. Toshitake Inoue, Director-General of the Policy and Market Bureau, Japan Financial Services Agency (FSA); Mr. Kenji Oki, Secretary-General of the Certified Public Accountants and Auditing Oversight Board (CPAAOB) and Director-General of International Audit and IFIAR Affairs, FSA; and Mr. Yuichiro Enomoto, Director, Office of International Audit and IFIAR Affairs, FSA.

In his meetings, Chairman Logothetis noted the productive collaboration between the PCAOB and the FSA/CPAAOB. Topics of discussion also included the PCAOB’s inspections modernization project and the importance of QC 1000, A Firm’s System of Quality Control, in the context of modernized inspections, including scalability when inspecting smaller firms.

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About the PCAOB

The PCAOB is a nonprofit corporation established by Congress to oversee the audits of public companies in order to protect investors and further the public interest in the preparation of informative, accurate, and independent audit reports. The PCAOB also oversees the audits of brokers and dealers registered with the Securities and Exchange Commission, including compliance reports filed pursuant to federal securities laws.