A group of auditors and academics will ask the Financial Services Agency to examine efforts by banks to reconstruct their large corporate borrowers based on guidelines the group recently drew up.
The Accounting Oversight Board on Tuesday submitted the guidelines, which contain a 96-point checklist, to the FSA, group members said.
The group, officially established earlier in the day, will try to wipe out the differences in how the FSA, banks and accounting firms perceive the accounting standards, its acting chief, Takeshi Kimura, told reporters.