IASB and ASBJ representatives meet

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13 Mar 2009

Representatives of the Accounting Standards Board of Japan (ASBJ) and the International Accounting Standards Board (IASB) met in Tokyo on 11-12 March 2009 to discuss convergence of Japanese GAAP and IFRSs.

Among other things, the discussion covered the Draft Interim Report Application of International Financial Reporting Standards in Japan issued in February 2009 by the Planning and Coordination Committee of the Business Accounting Council regarding potential use of IFRSs by listed companies in Japan. The Draft Interim Report proposes that some listed companies could be permitted to use IFRS on a voluntary basis from the fiscal year ending 31 March 2010, with a decision on broader, mandatory use made in 2012. Click for:

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