IASB chair speaks in South Korea

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Sep 04, 2019

On September 4, 2019, the International Accounting Standards Board (IASB) released a keynote speech given at an event organized to celebrate the 20th anniversary of the Korea Accounting Standards Board (KASB). In his speech, IASB chair Hans Hoogervorst discussed Korea’s contribution to international standard-setting through history and remaining relevant in the future.

Mr. Hoogervorst began by reflecting on the IASB's history with the KASB. He moved on to discuss the future of financial reporting and remaining relevant in a changing world. He noted, 'To remain relevant, we must adapt.' He reiterated his view that the IASB is unlikely to tackle sustainability reporting standards, but noted their importance. He also pointed to the work the KASB is doing to shrink the gap between book value and market value of companies — the KASB is researching the possibility of a separate 'Statement of Key Intangibles'. 

Review the transcript of Mr. Hoogervorst's speech on the IASB's website.

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