TSM Group is reforming itself into a general “fund” service group company so that it may provide all aspects of solutions on the securitization and structured finances for clients, as its core business is based upon SPE management services.
Audit Standard No 86
Audit Standard No 86 stands for Auditing Standards Committee Statement No 86 of the Japanese Institute of Certified Public Accountants (which corresponds to SAS 70 in the US for assessment of internal control quality of service organizations). When Listed Companies would outsource some of its functions to service providers, Listed Company is required to make an assessment whether service providers keep the same internal control quality as theirs. The outsourcing companies may reduce its audit cost considerably when service providers are certified by their CPA under Audit Standard No.86 which state that management and auditor of outsourcing company may rely upon the certificate issued by the auditors of service providers.
