The receivers of bankrupt broker Yamaichi Securities are suing Chuo for allegedly failing to spot off-balance sheet losses, seeking Y6bn (£36bn) in damages.
Chuo did not report that Yamaichi had hidden up to Y270bn in losses in the financial year to March 1997.
The move follows criticism of the big international accountancy firms for lending their name to local partners who do not necessarily follow high-quality international financial reporting standards, the Financial Times said.
Just one half of UK practices have implemented a pricing structure around auto enrolment implementation and advice - with many suffering increased costs
Deloitte's north-west Europe foray; BDO, Smith & Williamson investment paths; Shelley Stock Hutter; and Wilkins Kennedy discussed by editor Kevin Reed on our Friday Afternoon Live broadcast
Accountants should alter their perspective on auto-enrolment to maximise business opportunities, according to Eric Clapton.
Kevin Reed discusses whether new accountancy group Cogital can rival the Big Four...and its likely direction of travel