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A "statutory audit" is a legally required review of the accuracy of a company's or government's financial records. The purpose of a statutory audit is the same as the purpose of any other audit – to determine whether an organization is providing a fair and accurate representation of
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In "mid-size" and "large" companies (i.e. with more than ¥100 million of paid-in capital), they have the right to attend board meetings to monitor the directors' actions.
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Statutory auditors are often selected from among the senior management of the company, or are former directors of related companies (such as suppliers or
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as understood in
English-speaking countries, which has led to some confusion when discussing their role in internationally prominent cases such as the
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its financial position by examining information such as bank balances, bookkeeping records and financial transactions. The
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149:. A kabushiki kaisha must have at least one statutory auditor, unless the transfer of shares is restricted in the
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273:"Green Paper: The Role, The Position and the Liability of the Statutory Auditor Within the European Union"
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301:"Background and Goals: New Recommended English translation of "Kansayaku" and "Kansayaku-kai""
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has also made efforts to mandate statutory audits and statutory auditors on an EU-wide level.
327:"Setting the Record Straight: The Real Internal Auditors at Olympus Have Not Been Implicated"
126:, although the English translation most commonly employed for the role in these countries is
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In "mid-size" companies, they audit the financial reports submitted by the company.
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are elected by shareholders and hold a position in the hierarchy alongside the
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is a title used in various countries to refer to a person or entity with an
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The role of the statutory auditor in Japan is distinct from the role of an
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In "large" companies, they oversee auditing performed by external
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306:. Japan Audit & Supervisory Board Members Association
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role, whose appointment is mandated by the terms of a
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74:, the term "statutory auditor" refers to an
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172:Statutory auditors have several functions:
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122:, which use modified forms of Japanese
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78:whose appointment is mandated by law.
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252:"Register of Statutory Auditors"
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203:certified public accountants
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151:articles of incorporation
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23:Statutory auditor (1762)
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359:Japanese business law
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163:nominating committee
325:Chambers, Richard.
182:board of directors
157:or ¥20 billion in
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207:external auditors
184:on behalf of the
135:supervisory board
88:statutory auditor
28:Statutory auditor
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278:. European Union
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228:internal auditor
224:external auditor
178:derivative suits
167:public companies
111:kabushiki gaisha
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76:external auditor
48:External auditor
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330:. Retrieved
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308:. Retrieved
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186:shareholders
180:against the
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219:partners).
169:in the US.
159:liabilities
120:South Korea
42:World usage
348:Categories
238:References
190:Daiwa Bank
141:Statutory
129:supervisor
61:By country
332:21 August
310:21 August
282:21 August
257:21 August
100:kansayaku
364:Auditing
216:keiretsu
143:auditors
107:Japanese
32:auditing
205:, i.e.
36:statute
116:Taiwan
304:(PDF)
276:(PDF)
82:Japan
72:India
66:India
334:2013
312:2013
284:2013
259:2013
118:and
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132:or
94:監査役
70:In
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