073 Creation of Corporate Financial Accountants denied
Financial Services Agency announced, on April 1 2011, that they submitted a proposal of revisions of CPAs and others to the Japanese Diet, and it seemed sure that creation of new accountants named Corporate Financial Accountants would be created. However, the proposal has been denied mostly by opposing party, and it will not be approved in this year’s session.
Some are raising questions on its creation for its necessity and the discussion process of the proposal. It was not well established by enough discussion after all. But, there are still grave problems on CPA job-seekers and waiting-to-be CPAs (who has already passed the exams but not yet registered as a Certified Public Accountants), and they need solving.
It is a huge loss not only for future CPAs but also for the nation itself that they could not make good use of excellent human resources. We wish that better reform would be proposed within this year.
