US SEC and Japan FSA discuss global convergence

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04 May 2005

US SEC Chairman William H.

Donaldson and Japan Minister of State for Financial Services Tatsuya Ito met on 3 May 2005 in Washington and discussed, among other things, expanding the use of high-quality global accounting standards. The SEC's Announcement (PDF 30k) said that "Chairman Donaldson and Minister Ito affirmed their support for the convergence of accounting standards and agreed that dialogue between the US Financial Accounting Standards Board (FASB) and the Accounting Standards Board of Japan (ASBJ) is an important element in the overall convergence program."

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