The investigation into Livedoor Co. including allegations of widespread window-dressing is expected to intensify calls to institute U.S.-style internal control requirements.
Accounting manipulation charges against Livedoor, following scandals at Seibu Railway Co. and Kanebo Inc., will also call into question the responsibility of auditing companies.
The Business Accounting Council, a panel under the Financial Services Agency, proposed in December that Japan introduce internal controls on financial reporting.
See full Article.
Posts
