Japan auditor Misuzu to transfer clients to Deloitte - report |
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Sun, 25 Feb 2007 12:00
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TOKYO (XFN-ASIA) - Misuzu Audit Corp is in talks to transfer about half of its listed clients to Deloitte Touche Tohmatsu Japan, the Nikkei reported, citing sources close to the firm.A deal would bring the number of listed firms audited by Deloitte Touche Tohmatsu to about 1,200, the report said.Misuzu, which is disbanding, follows wavering client confidence after its predecessor, ChuoAoyama PricewaterhouseCoopers, received a two-month business suspension order last year after its accountants certified Kanebo Ltd's falsified financial statements.Misuzu has also agreed to start talks with the two other major auditors, Ernst & Young ShinNihon and KPMG Azsa & Co., about transferring operations.Deloitte Touche Tohmatsu is expected to take over the auditing work for roughly 300 listed firms now handled by Misuzu's Tokyo head office, and will also take in the accountants assigned to those firms, the report said.
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