东京——陷入丑闻的日本电产（Nidec）面临着一个日益临近的截止日期：该公司必须证明自身的治理结构是健全的，以避免被证券交易所除名的风险。此前，其会计事务所拒绝为该公司延迟提交的财务报告的准确性提供担保。
TOKYO -- Scandal-hit Nidec faces a fast-approaching deadline to show its governance structures are in order and ward off the risk of delisting, after its accounting firm declined to vouch for the accuracy of the motor maker's delayed financial report.
经过多次延期后，日本电产终于在周三提交了截至2026年3月的年度报告。但普华永道（PwC Japan）在报告中附加了一份免责声明，表示该会计事务所未能获得足够且可靠的证据来对财务报告发表意见。
Nidec on Wednesday submitted the annual report for the year ended March 2026, following a lengthy postponement. But PwC Japan added a disclaimer that the accounting firm was unable to obtain sufficient and appropriate evidence to form an opinion on the financial statement.
现在，日本电产必须在10月底之前向东京证券交易所提交关于公司内部控制的报告。
Now Nidec has to submit a report on internal controls to the Tokyo Stock Exchange by the end of October.
据消息人士透露，问题迹象最早出现在9月底：当时普华永道向日本电产询问了前首席执行官岸田光也（Mitsuya Kishida）是否涉嫌参与公司的会计违规行为。消息人士还称，普华永道也告知日本电产，审计工作可能无法按时完成。
Signs of trouble emerged in late September, when PwC asked Nidec about the suspected involvement of former CEO Mitsuya Kishida in the company's accounting irregularities, according to sources. PwC also informed Nidec that the audit might not be completed in time, the sources added.
为了争取普华永道对财务报告的“无保留意见”，外部董事等人开始要求岸田光也辞职。
Desperate to obtain PwC's unqualified approval of the financial statement, outside directors and others started to call for Kishida's exit.
尽管日本电产曾考虑进一步延长年度报告的提交截止日期，但最终这一请求并未得到批准。提交的年度报告附带了普华永道的免责声明；普华永道既未对财务报告也未对公司的内控体系发表任何意见。
Nidec had explored the possibility of extending the deadline further for submitting the annual report until Kishida abruptly resigned on Tuesday. Ultimately, there was no additional extension, and the submitted annual report came with PwC's disclaimer. The auditor declined to state an opinion on both the financial statement and on internal controls.
即使在第三方委员会完成调查之后，普华永道仍对日本电产的治理结构表示担忧。普华永道表示：“一些向审计机构提供虚假陈述的高管，在该公司及其子公司的财务报告流程中担任着关键职务。”
Even after a third-party committee completed its investigation, PwC continued to raise concerns about Nidec's governance. "Some of the executives who made false statements to the auditor hold positions of responsibility in the financial reporting processes of the company and its group companies," PwC said.
对于周二接替岸田光也的新任总裁兼首席执行官池田道夫（Michio Kaida）来说，重建公司的内部控制体系是当务之急。
For Nidec's new president and CEO, Michio Kaida, who took over from Kishida on Tuesday, rebuilding internal controls is a priority.
要获得审计师的签字认可，就必须查明阻碍公司治理的人员，例如提供虚假说明的人，并尽快处理相关问题。一家中型会计师事务所的会计师表示。
"To receive an auditor's sign-off, it is necessary to identify those who are hindering corporate governance, such as by providing false explanations, and address the issue as quickly as possible," said an accountant at a midsized audit firm.
一年前，东京证券交易所将日本电产列为“特别警戒证券”，要求该公司完善内部控制制度。
A year earlier, the TSE designated Nidec as a "security on special alert," calling for improvements to the company's internal controls.
通常，在作出这一指定一年后，东京证券交易所的母公司日本交易所集团旗下的自律机构会对公司的内部控制制度进行审查，并决定是否维持或撤销该 designation。
Normally, a self-regulatory body under the TSE's parent, Japan Exchange Group, reviews the company's internal control systems one year after the designation and determines whether to maintain or lift the label.
东京证券交易所分两个阶段评估内部控制。首先，评估公司是否建立了防止欺诈和确保会计处理合规的机制。随后，东京证券交易所确定这些制度是否得到正确管理。
The TSE evaluates internal controls in two stages. First, it assesses whether mechanisms to prevent fraud and to ensure proper accounting procedures are in place. Second, the TSE determines whether those systems are being correctly managed.
如果公司已经建立内部控制制度，但被发现未能正常运作，特别警戒 designation 将持续至财年末，届时将再次进行评估。该 designation 最长可维持三年。
If internal controls have been set up, but are found to not be operating correctly, the special alert designation will remain in effect until the end of the fiscal year, at which point another assessment will be conducted. The designation can be kept in place for up to three years.
如果东京证券交易所发现公司未能建立充分的内部控制制度，且没有迹象表明公司将迅速建立相关制度，交易所可能将该公司列为“受监管证券”，这将带来退市风险。
If the TSE finds the company has not set up adequate internal controls, and there is no indication that such controls will be established promptly, the exchange may designate the company "security under supervision," which carries the risk of delisting.
日本电产必须在10月底前取得无保留审计意见，并提交更正后的证券报告书，但公司能否在如此短的时间内建立充分的内部控制制度仍不明确。
Nidec is required to obtain an unqualified audit opinion and file an amended securities report by the end of October, but it remains unclear whether the company will be able to establish adequate internal controls within such a short period.
2015年，东芝因会计违规问题被东京证券交易所列为警戒证券。直到普华永道作为东芝的审计师，对截至2017年3月的年度报告出具保留意见后，该警示才被取消。
In 2015, Toshiba received a security on alert designation from the TSE due to accounting irregularities. The indication was only lifted after PwC, Toshiba's auditor, signed off on the annual report for the year ended March 2017 with a qualified opinion.
如果公司未能获得审计机构的签字确认，根据东京证券交易所的决定，该公司仍可能避免被列为受监管证券。电产公司获得了提交年度报告的延期期限，并已接受第三方委员会的调查。
If a company fails to obtain a sign-off from its auditing firm, it may still avoid being designated as a security under supervision, depending on what the TSE decides. For Nidec, the company received an extended deadline for submitting its annual report, and the company has undergone an investigation by a third-party committee.
东京证券交易所可根据审计机构是否作出适当判断及其他因素，决定是否继续维持特别警示状态。
The TSE may decide to keep the special alert status in place, based on whether the auditing firm made the appropriate judgement and other factors.
“这些违规行为可能长期持续，并已蔓延至整个集团，”公认会计师、Kaede会计咨询公司负责人冈村健一郎表示。“该公司将受到严格审查，以确认其是否已竭尽全力建立一套旨在确保财务报表准确性的治理体系。”
"The irregularities may have been going on for an extended period and had spread across the group," said Kenichiro Okamura, certified public accountant and head of Kaede Accounting Advisory. "The company will face close scrutiny over whether it did everything in its power to establish a governance system aimed at ensuring accurate financial statements."