Many previous studies related to internal control quality examine the relationship between the quality of internal controls and audit fees, earnings quality and cost of equity, etc., and results suggest that monitoring quality, which is a component of internal controls, has significant consequences for internal control quality. These literatures use corporate governance characteristics (i.e., governance independence and accounting expertise) or internal auditing quality (i.e., auditing experience and internal auditors’ education level) as a proxy of monitoring quality. On the other hand, this study uses Control Self-Assessment (CSA) as a proxy of monitoring quality, and examines the effect of CSA on financial reporting quality using　Japanese firm sample. CSA was developed by Gulf Resources Canada, Ltd. in 1987 to conducting internal audits.  This approach is a technique used to review material business objectives, risk involved in achieving the objectives, and internal controls effectiveness, and all related stuffs take part in assessment of internal controls. I find that CSA has a negative relationship with the number of financial restatements and audit fees, and therefore, I conclude that CSA has positive consequences for financial reporting quality.