Comparison of Internal Control Systems in Japan and China

Sato Takahiro and Pan Jia

International Journal of Business Administration, 2012, vol. 3, issue 1, 66-74

Abstract: In Japan, "Corporate Law" and ¡°Financial Instruments and Exchange Law" stipulate the internal control system. Stipulations in ¡°Corporate Law¡± tend towards all levels the in the company, while stipulations in ¡°Financial Instruments and Exchange Law¡± are more inclined towards the accuracy of financial reporting. Although the internal control systems stipulated by these two laws have many of differences, their essence is the same: perfecting a comprehensive internal control system. In order to safeguard the normal operation of internal control system, provisions in the law require that directors act in due diligence toward establishing an internal control system.

Keywords: Internal Control; Sino-Japan Comparison; the Duty of the Diligence (search for similar items in EconPapers)
Date: 2012
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