The Okinawa Institute of Science and Technology School Corporation (the “Corporation”) relies upon the provisions of the Okinawa Institute of Science and Technology School Corporation Act in combination with policies, rules and procedures set out in this Chapter, in managing the financial affairs and accounting of the Corporation. This Chapter sets forth the financial and accounting standards, practice, and rules of the Corporation used to monitor its financial conditions and administrative performance and to assure the smooth operation of activities of the Corporation in support of the education and research missions of the OIST Graduate University (the University).
26.1.1 Accountability & Transparency.
The Corporation may prepare financial statements based on the internationally recognized accounting standard in addition to the ones based on the OIST School Corporation accounting standards stipulated by the Japanese government in order to gain its accountability and transparency to the international donors or provider of funds.
26.1.2 Applicable Standards.
The financial statements are prepared in accordance with applicable accounting standards relevant to OIST School Corporation.