Asahi Glass Co. will officially decide at its annual shareholders meeting in March 2006 to drop ChuoAoyama Audit Corp. and appoint another major auditing firm.
Asahi Glass is concerned that ChuoAoyam…
Asahi Glass Co. will officially decide at its annual shareholders meeting in March 2006 to drop ChuoAoyama Audit Corp. and appoint another major auditing firm. Asahi Glass is concerned that ChuoAoyama could be hit with fines for its alleged falsification of the financial statements of Kanebo Ltd., informed sources said. Since the Kanebo scandal broke, ChuoAoyama has been abandoned by clients Trend Micro Inc., Global One Real Estate Investment Corp. amongst others. The change is also aimed at improving corporate governance because ChuoAoyama has been auditing the accounts of Asahi Glass for a long time, the sources noted.