Last updated : December 27, 2017
Activities of the Independent Auditor
NTT has appointed KPMG AZSA LLC as its Independent Auditor.
The Independent Auditor maintains the level of coordination with the Audit & Supervisory Board and the Internal Control Office necessary to conduct appropriate audits. As part of this coordination, the Independent Auditor appropriately audits by reporting the audit plans and audit results to the Audit & Supervisory Board and working together with the Internal Control Office to establish systems for monitoring the status of oversight related to evaluating internal control systems for financial reports. For the fiscal year ended March 31, 2017, the Independent Auditors who carried out the audit were Takuji Kanai, Kensuke Sodekawa, and Masashi Oki, whose years of experience as Independent Auditors are within the statutory guidelines.
In addition, 20 certified public accountants and 34 other staff members assisted in conducting the audits.
Nomination of the Independent Auditor
NTT believes that it is important to maintain and enhance audit quality while increasing audit efficiency. Based on this policy, the Audit & Supervisory Board evaluates Independent Auditor candidates from the perspectives of their independence and specialties and the appropriateness and adequateness of their auditing activities. The candidates who are approved by the Audit & Supervisory Board are then presented for voting at the Ordinary General Meeting of Shareholders.
The Audit & Supervisory Board may choose to dismiss or not reappoint the Independent Auditor in any of the cases described in Article 340 (1) of the Companies Act based on a unanimous vote by all Audit & Supervisory Board Members. In addition, if the Board of Directors determines that it would be difficult for the Independent Auditor to perform proper audits, the Audit & Supervisory Board may propose a resolution to the Ordinary General Meeting of Shareholders that the Independent Auditor be discharged or that the Independent Auditor not be reappointed.
Compensation of Independent Auditor
NTT and its major subsidiaries pay compensation to KPMG AZSA LLC, NTT's Independent Auditor, and other member firms of the KPMG network for audit services and for non-audit services.
|Fiscal year ended March 31, 2016||Fiscal year ended March 31, 2017|
|Compensation for audit services||¥4,812 million||¥5,004 million|
|Compensation for non-audit services||¥447 million||¥567 million|
|Total||¥5,259 million||¥5,571 million|
- Audit services refer to the auditing of the financial statements of NTT and its consolidated subsidiaries in Japan and overseas.
Non-audit services include the provision of guidance and advice related to International Financial Reporting Standards, tax returns, and tax consultation for consolidated subsidiaries in Japan and overseas.
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