Exchange of Letters (EOL) with Malaysia AOB on cooperation in the area of audit oversight

1. Financial Services Agency (FSA) and Certified Public Accountants and Auditing Oversight Board (CPAAOB) exchanged the Letters on cooperation in the area of audit oversight with the Audit Oversight Board (AOB) of Malaysia on October 3, 2012

2. In view of the global nature of capital markets, this EOL intends to enhance cooperation between Japan FSA/CPAAOB and Malaysia AOB, so as to protect investors, help promote public trust in audit process, and increase investor confidence in respective capital markets.

3. This EOL enables each authority to share information upon request, with respect to foreign audit firms that fall within the regulatory jurisdiction of both authorities.

4. The contents of the Letters include, but are not limited to, the following;

• an authority will provide the other authority, on request or where it judges it appropriate to do so, with information it holds on relevant foreign audit firms;
• the authorities will use their best endeavors to notify one another, prior to or immediately after taking any material oversight measures, in respect of relevant foreign audit firms that are registered/notified or seek registration/notification in the other's jurisdiction;
• the Letters do not create any legally binding obligations upon the authorities; and
• other descriptions such as those on the treatment of information exchanged, etc.