CAPA has one Member in Japan, the Japanese Institute of Certified Public Accountants.
The Japanese Institute of Certified Public AccountantsJICPA is the only professional body in Japan. In 1948, the Securities and Exchange Law and "Konin Kaikeishi" (CPA) Law was passed and the JICPA was incorporated as a private establishment on April 1, 1953.
The JICPA was reorganised in 1966 under the revised CPA Law as a special corporation. Among the new provisions, all CPAs in Japan were required to register as JICPA members.
Headed by the General Assembly, which is responsible for planning the Institute's activities, including approving finances and deciding the budget. The Executive Council reports to the General Assembly.
The business accounting system in Japan is based primarily on the Commercial Code, the Securities and Exchange Law and the Corporate Income Tax Law. The Commercial Code, the most fundamental of the statutes, is known along with the two laws as the "Triangular Legal System" which governs business accounting in Japan.
The CPA examination is administered by the Financial Services Agency (FSA).
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