Publication of the finalized „Cabinet Orders and Cabinet Office Orders Pertaining to the Amendments to the Certified Public Accountants Act“ after public consultation

On 25 January 2023, the Financial Services Agency (FSA) issued the „Publication of the finalized „Cabinet Orders and Cabinet Office Orders Pertaining to the Amendments to the Certified Public Accountants Act“ after public consultation“ (provisional English title – available only in Japanese).
The finalized Cabinet Orders and Cabinet Office Orders mainly develop provisions of the relevant and applicable cabinet orders, cabinet office orders, and others, in response to the enforcement of the „Act Partially Amending the Certified Public Accountants Act and the Financial Instruments and Exchange Act“ (Act No. 41 of 2022).
In particular, the finalized Cabinet Orders and Cabinet Office Orders provide amendments in regard to the following:
– Development of provisions pertaining to the registration system for auditors of listed companies;
– Development of provisions pertaining to the limitation of services based on marital relationships of audit corporation partners; and
– Other matters, including certified public accountants‘ registration-related matters.
The finalized Cabinet Orders and Cabinet Office Orders will be enforced on 1 April 2023, whereby the corresponding amendments to the relevant and applicable comprehensive guidelines for supervision will take effect on the same date.