Japan's Financial Services Agency (FSA) is reportedly planning to establish a new department, aimed to directly manage and control the country's financial audits. The department will serve as a central command tower, coordinating inspections to ensure compliance among financial institutions. However, the specific responsibilities and establishment timeline have not been released yet.

The move has caught public attention in Japan, as it indicates the government's increased scrutiny over the financial sector. Ensuring regulatory compliance has been a strong social value in Japan, and this change could reflect efforts to strengthen control and transparency in the financial sector.

In contrast, in the US or EU, regulatory bodies like the Securities and Exchange Commission or the European Securities and Markets Authority respectively hold similar roles. However, the establishment of an entirely new department, particularly for the coordination of audits, might represent a more centralized approach than used in Western countries.