We, at Crowe Toyo & Co., provide high-quality audit services by conducting audits pursuant to audit manuals and tools of Crowe Global, an international accounting firm. In conducting audits, we place the highest priority on maintaining communication with our clients.
This is based on our belief that if each audit team member in addition to engagement partners can maintain positive communication with clients and fully understand clients' operations and business environment, we can mutually understand issues related to accounting audits and solve them quickly.
Therefore, engagement partners frequently visit audit sites to ensure flexible response. In addition, we make efforts to fix audit team members in order to increase understanding in clients' industries and business categories.
In order to differentiate ourselves from other major audit firms, when we select audit team members, we prioritize auditors who have extensive experience and a deep understanding of clients so that we can provide audit and other services efficiently.
Characteristics of clients
Crowe Toyo & Co. has a large client base of small and mid-sized corporations. Listed companies also select Crowe Toyo & Co. as an alternative to major audit firms. Among not-for-profit organizations, we have a large client base of incorporated schools.
The number of clients by stock exchange (As of June, 2019)
The number of clients by audit type (As of June, 2019)
Unlike Japanese accounting standards that we have been familiar with, IFRS is adopted considering the company's business under the principle-based approach and financial statements are prepared in accordance with IFRS. Conducting audit of financial statements based on IFRS depends on how much we understand about our clients.
We, at the Crowe Toyo & Co. IPO Support Office, answer a wide range of inquiries from companies looking to undertake an IPO and provide them with support to enable an ideal IPO in cooperation with various IPO stakeholders such as securities markets, managing underwriters, and venture capitals. As an audit firm and a guardian of a fair capital market, we respond to the need to enhance audit quality control in light of the frequent occurrence of accounting fraud in recent years. We do so by providing companies aiming for an IPO with appropriate advice during the pre-IPO audit period to ensure sound capital market operation. In case companies aiming for an IPO implement various management strategies such as M&A and global market expansion, we provide support during the process by leveraging Crowe Global networks and functions. The Crowe Toyo & Co. IPO Support Office believes that the importance of open innovation will increase significantly in line with social changes and thus full-scale industry, government, and academia collaboration will be necessary. Against this backdrop, we will provide services to support frameworks to promote open innovation in various scientific fields in the future.
Financial statements audit reports for the last two fiscal years are required when companies apply to be a listed one. In order to provide an audit opinion, it is necessary to validate the balance sheet at the beginning of the two fiscal years.
An IPO short review is a short term financial investigation conducted for the purpose of identifying issues that may arise during the IPO process. In pursuing an IPO, it is important to develop an organizational structure to ensure organizational management and a framework to ensure timely disclosure. These frameworks are examined by securities firms, and stock exchanges.
At Crowe Toyo & Co., experienced certified public accountants conduct IPO short reviews in order to understand various issues that may arise during the IPO process. Examples of issues include the following: