April 8 , 2008
Financial Services Agency
FSA publishes ''Eleven Misunderstandings about the Internal Control Report System''
The Internal Control Report System, which is applied from fiscal years beginning on or after April 1, 2008, aims to strike a balance between efficiency and effectiveness so as to avoid imposing excessive cost burdens on relevant companies.
It is said, however, that there are still cases in the practice where excessively conservative attitudes are apparent. To address the situation, the Financial Services Agency (FSA) reiterated the original intent of the Internal Control Report System by publishing "Eleven Misunderstandings about the Internal Control Report System" on March 11, 2008.
The FSA also published the outline of administrative measures for smooth implementation of the Internal Control Report System.
Contact:
Financial Services Agency
Tel +81-(0)3-3506-6000 (main)
Corporate Accounting and Disclosure Division, Planning and Coordination Bureau (ext. 3680, 3656)
Site Map
- Press Releases & Public Relations Page list Open
- Press Releases
- Press Conferences
- Official Statements
- FSA Weekly Review & ACCESS FSA
- Speeches
- For Financial Users
- Others
- Archives
- Laws & Regulations Page list Open
- Name of Laws and Regulations(PDF)open link in new window
- Recent Changes (Legislation, Ordinances, Guidelines)
- Guidelines
- Financial Instruments and Exchange Act
- Financial Monitoring Policy
- Public Comment
- No-Action Letter System
- Procedures concerning Foreign Account Management Institutions