TOKYO, Jun 12 (Pulse News Wire) – Accrete Inc. (4395.T) agreed to terminate its audit contract with Frontier Audit Corporation effective during the fiscal half-year ending on a date to be determined by Frontier Audit Corporation.
The decision was made due to increasing demands on resources and time resulting from the company's expansion, making it difficult to ensure adequate audit quality going forward. The agreement follows discussions initiated after Frontier Audit Corporation indicated challenges in maintaining timely responses to expanding accounting processes. The initial contract began on March 29, 2024. Both parties concurred that continuing the arrangement would pose significant risks to audit quality.
In light of this development, Accrete Inc. is currently progressing with the selection process for new auditors who will comply with Financial Instruments and Exchange Law requirements. The company expects to promptly announce the chosen auditor once the selection is finalized. Additionally, Frontier Audit Corporation has committed to facilitating a smooth transition of audit responsibilities.
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