In 1991 the Business Accounting Deliberation Council ofthe Ministry of Finance completely amended Auditing Standards and Rules after the
interval of twenty-five years. In the amendment the Council referred to Statements on Auditing Standards (SASs) promulgated by the American
Institute of Certified Public Accountants (AICPA). A minor amendment in relation to Statement ofCash Flows has been made since 1991. The AICPA issued SASs from No.69 to No.91 after the 1991's amendments of Japanese Auditing Standards and Rules. They include important subjects such as a relationship between accounting standards and auditing standards, responsibility of auditors, uncertainties and the entity's ability to continue as a going concern. The subjects should be considered in the forthcoming amendment of Japanese Auditing Standards and Rules. Japanese Auditing Standards and Rules have points at issue to be considered for improvement in the right of SASs as well as the subjects. The Japanese Institute of Certified Public Accountants (JICPA), which issues Reports of Auditing Standards Committee as the
interpretations of Auditing Standards and Rules, now seems to have the ability to establish auditing standards. Accordingly, the JICPA has to be a body to promulgate auditing standards.