List of Accounting Advisory Services
(1) IFRS Support
RSM Seiwa provides IFRS support to our clients from a variety of viewpoints and mainly as follows.
IFRS Impact Studies
We conduct IFRS impact studies that fit the client's requirements (scope, depth, budget, etc.) and characteristics (industry, size, etc.). The results of impact studies are reported in a simplified report, as well as the issues and measures to be taken for implementation.
IFRS Practicle Implementation Advisory
We provide advice on the procedures for applying IFRS and how to make the transition. We can provide this advice by making full use of the RSM network, including RSM International's dedicated IFRS Helpdesk, and by referencing problems faced in countries where IFRS has already been applied.
We host seminars open to non-members of our firm on topics related to IFRS. We plan to continue to hold seminars that go into the practical aspects of each topic while keeping a close eye on the common trends in the application IFRS.
(2) Support Services for Establishing Internal Controls
Since April 2008 puplicly listed companies in Japan are required to submit reports on their internal controls.
This report must be audited off by a CPA. The report and the CPA's opinion letter on the report are together commonly referred to as JSOX.
In many cases companies established internal control systems for their IPO review but have not updated their internal control system since. Now under JSOX comanies' management need to evaluate their internal controls and have them documented.
The documentation covers a wide range of areas, from management-level control status to field-level workflow, and requires a high level of audit certification and efficiency to reduce administrative burdens.
Since the internal control system covers the entire company, it is important for management to select the scope of internal control evaluation in order to perform it effectively and efficiently.
In this regard, our staff's ongoing consulting and auditing experience enables us to work from both the preparer's and the auditor's perspective, and to keep our work to the essentials.