Outcomes from the fifth AOSSG meeting
20 Dec 2013
The Asian-Oceanian Standard-Setters Group (AOSSG) has released a communiqué from its meeting held in Colombo, Sri Lanka on 27 and 28 November 2013.
The participants discussed the following topics:
- Building regional capacity where members especially noted the progress of the AOSSG's pilot IFRS Centre of Excellence project in Nepal that is intended to help Nepal to build its standard-setting capacity.
- Update and discussion on IASB projects - general, in particular, progress on the projects concerning revenue recognition, leases, agriculture and IFRS 3 post-implementation review as well as on the IASB research programme.
- Update and discussion on IASB projects - detailed, in particular, progress on the projects concerning the Conceptual framework, insurance contracts, financial instruments and rate-regulated activities.
- Islamic Finance where members especially discussed the findings of the AOSSG Islamic Finance Working Group’s survey of the accounting and auditing practices in the Middle East and North Africa.
- IFRS for SMEs where the meeting discussed the IASB's Exposure Draft of proposed amendments to the IFRS for SMEs.
- IFRS in the region where AOSSG members from India and Nepal provided updates on the progress of adopting IFRS in their respective jurisdictions.
Click for the comminiqué from the meeting (link to AOSSG website)
