JICPA

AcronymDefinition
JICPAJapanese Institute of Certified Public Accountants
JICPAJoint IFLA-ICA Committee for Preservation in Africa
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The banking consolidated subsidiaries apply the deferral method of hedge accounting for hedges of the risks arising from financial assets and liabilities due to the fluctuation of foreign exchange rates which is described in "Treatment for Accounting and Auditing of Application of Accounting Standard for Foreign Currency Transactions in Banking Industry," issued on July 29, 2002 (the JICPA Industry Audit Committee Report No.
Reserve for possible loan losses is calculated in accordance with the internal rules of the banking consolidated subsidiaries based on the "Practical Guidelines for Audits of the Self-Assessment of Assets of Financial Institutions including Banks, Write-Down and Allowance for Doubtful Accounts," issued on July 4, 2012 (the JICPA Ad HocCommittee for Audit of Banks, etc., Report No.
'The JICPA is taking the leading role in education but there are also universities and accounting firms involved,' said Sekiguchi.
Meanwhile, Fujinuma said the JICPA will ask the Financial Services Agency to revise the current law recognizing the collective responsibility of certified accountants jointly working for a single auditing firm, in order to limit the scope of their liability in the event of one of the accountants being found to have engaged in illicit accounting practices.
Under the ''tax effect'' accounting rules of the JICPA, which devised DTA accounting rules in consultation with the Financial Services Agency, the allowable sum of a DTA has been severely limited.
The JICPA rules have set the upper limit of a DTA that a bank may count as part of its core capital to a sum equal to approximately 40% of five years of the bank's self-assessed taxable income estimates.
So (accounting) treatment must be different as well,'' JICPA President Akio Okuyama told reporters after the meeting.
The new guidelines issued by the head of the Japanese Institute of Certified Public Accountants (JICPA) in February this year calls for an auditing firm to consider lowering the upper limit from five years if financial conditions of a bank deteriorate.
Akio Okuyama, president of the JICPA, acknowledged that the four auditing firms have different standards when they count the ratio of deferred tax assets to be included into capital.
The chief of the Japanese Institute of Certified Public Accountants (JICPA) on Thursday rejected calls from some JICPA members to look into how the two auditing firms of Resona Bank examined the appropriateness of the bank's capital amounts.
The Japanese Institute of Certified Public Accountants (JICPA) said Thursday some 90% of audit firms it investigated in fiscal 2001 were advised to improve their operations.
The Japanese Institute of Certified Public Accountants (JICPA) plans to evaluate assets held by ''shinkin'' banks (credit associations) and credit cooperatives at market value starting with the year to March 31, 2001, JICPA officials said Wednesday.