2002 Fiscal Year Final Research Report Summary
An Empirical Study on the Assurance Level of Financial Statements Audit
| Project/Area Number |
11430029
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| Research Category |
Grant-in-Aid for Scientific Research (B)
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| Allocation Type | Single-year Grants |
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| Section | 一般 |
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| Research Field |
Accounting
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| Research Institution | DOSHISHA UNIVERSITY |
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Principal Investigator |
YURINO Masahiro Doshisha Univ., Dep. Of Commerce, Professor, 商学部, 教授 (20104606)
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| Co-Investigator(Kenkyū-buntansha) |
ISHIHARA Toshihiko Kawanseigakuin Uhiv., Institute for Industrial Research, Professor, 産業研究所, 教授 (20223018)
NAITO Fumio Kobe Univ., Dep. Of Management, Professor, 大学院・経営学研究科, 教授 (80188862)
IYCOA Takatoshi Konan Univ., Dep. Of Management, Professor, 経営学部, 教授 (60184834)
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| Project Period (FY) |
1999 – 2002
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| Keywords | Audits of Financial Statements / Assurance / Conceptual Framework / Protecting Investors / Accounting Profession / Securities Financing / Audits of Private Sector / Audits of Public Sector |
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| Research Abstract |
We have done "A Positive Research about the Assurance Level in the Audit of Financial Statements" for four years.
When this research started, audit business in Anglo-American countries, which has a great influence to Japan, was remarkably expanding. And one of the leading issues was the assurance level of the audit.
Moreover our country tried to draw accounting and auditing system to the global standard level at the turning point of the century.
However the environment that was surrounded the accounting and auditing system of our country has dramatically changed. Especially the trust to it degraded in the long process of the deflation.
At the same time a doubt for the reliability of the independent audit grew in the same way in America. That doubt wiped away one of the huge accounting firms from this world at last and American government produced a new law for preventing corporate fraud.
In these circumstances we reached the conclusion that we have some issues peculiar to our country besides the assurance level of the audit of financial statements.
Some of them are as follows ;
1. The recognition of the immaturity of the Japanese way of thinking about both importance of the securities financing itself which should be the base of the audit of financial statements and the securities investors protection.
2. The recognition of the important role of accounting and auditing in more important sectors such as the local government or the country than the securities market, which is imperfect in Japan.
3. The establishment of the general framework of the professional audit, which isn't confined only for the audit of financial statements.
We believe that the fundamental research which gives a strong base from the new point of view could be accomplished concerning the independent verification by the accounting profession that expansion is strongly asked in our county now, though a common critical mind itself in the start moment could not but change greatly.
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