AUDIT
Audits of public interest corporations
Independent audits for Japanese public interest incorporated associations and foundations, under their applicable accounting framework.
01 / WHAT WE DO
Scope & purpose
Understand donations, grants, restricted funds, public interest activities and other operations. Confirm the applicable framework and statutory requirements, and plan statutory or voluntary audit work around significant risks.
- Activities, funding restrictions and use of assets
- Accounting categories and shared cost allocation
- Financial statements, notes and important controls
02 / PROCESS & HANDOFF
How the work progresses
- Understand the organizationAcceptance review, scope and preparation plan
- Plan and perform the auditAudit findings and matters for discussion
- Report and communicateAudit report and significant matters
Illustrative workflow. The scope and deliverables are agreed for each engagement.
01Understand the organization
Discuss the audit purpose, period, operations, funding and reporting arrangements. Confirm acceptance conditions and share the preparation timetable.
Output / next handoff: Acceptance review, scope and preparation plan
02Plan and perform the audit
Plan procedures according to materiality and significant risks. Examine relevant financial information and supporting evidence, understand controls, and discuss important accounting matters with management.
Output / next handoff: Audit findings and matters for discussion
03Report and communicate
Report on the financial statements under the applicable framework and communicate significant accounting and control matters to the appropriate people.
Output / next handoff: Audit report and significant matters
03 / DELIVERABLES
Deliverables & their use
- Audit report on the relevant financial statements
- Clear communication of significant accounting and internal control matters
- Preparation points for subsequent periods
The package links figures and conclusions to source information and review records. Its precise contents are agreed for the engagement.
04 / DISCUSS YOUR NEEDS
Getting started & engagement conditions
Tell us the purpose of the audit, reporting period, deadline, applicable framework, and whether this is a first audit or a change of auditor. Preliminary discussions cover the business, accounting and control environment. Acceptance depends on independence and other engagement conditions. Where the auditor is changing, necessary communication with the predecessor is included in planning.
Related entities and independence ↗LET’S TALK
Let’s work out your next step.
You do not need a finalized brief. Start with the challenge or the work you would like to entrust.