ISA 600 Explained
The International Federation of Accountants has updated the International Standard on Auditing 600 (ISA 600), and the revised standard went into effect on December 15, 2023. What are the advantages and disadvantages of the revisions when it comes to group audits?
Internal Controls, Sustainability, and IFRS
With two new sustainability standards in effect for annual reporting as of January 1, 2024, companies may need to reassess their internal controls to ensure they are compliant with disclosure requirements.
Renewable Ambitions
Japan has detailed ambitious plans for the wider deployment of renewable energy sources throughout the economy. Yet energy experts caution that Tokyo is unlikely to reach those targets unless policy changes are made.
Investing in Biotech
To help Japan capture a market forecast to grow to up to $4 trillion by 2040, METI has created an $8 billion fund to support biomanufacturing, a field that encompasses technologies which leverage genetic technology to maximize the ability of microorganisms to produce substances.
CO2 Punch!
Globally, 14 percent of greenhouse gas emissions originate from the transportation sector—and that jumps to 27 percent in the United States. Cars aren’t the only culprits. The aviation industry is also concerned about its share of carbon dioxide (CO2) going into the atmosphere. On our way to a sustainable, carbon-neutral future, bypassing such pollution is a must. The ACCJ Journal spoke with companies in the automotive and aerospace sectors to take the pulse of transportation and find out where future journeys might take us.
Japan’s Energy Alignment Goals
For several decades, Japan has executed a successful strategy of importing its energy via long-term contracts and relationships. Meanwhile, renewable electricity supply has expanded greatly under the feed-in-tariff and feed-in-premium systems, known as FIT and FIP. But current circumstances pose a challenge that necessitates a new approach.
The S in Sustainability
ESG has become another fixed feature of a company’s operating landscape. As such, it requires increasingly specific rules and requirements. So far, the ESG agenda has primarily focused on the E, as companies tackle climate change, largely by reducing emissions and carbon footprints. However, the spotlight is also moving to the S, which includes the social impact of our value chains.
Deepening Africa–Japan Business Ties
While the number of Japanese companies active in Africa has doubled over the past decade to more than 900, Japan continues to lag the European Union, the United States, China, and India. The Ministry of Economy Trade and Industry (METI) is focused on encouraging Japanese businesses to support sustainable growth in Africa through projects that address vital social needs, leverage digital transformation, provide technical skills training, and boost renewable power generation.