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Comparison of Internal Control Systems in Japan and China

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Author(s): Sato Takahiro | Pan Jia

Journal: International Journal of Business Administration
ISSN 1923-4007

Volume: 3;
Issue: 1;
Date: 2012;
Original page

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.
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