Development of endorsed IFRS in Japan

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30 Sep 2013

The Accounting Standards Board of Japan (ASBJ) has posted to its website the English language translation of a message from the ASBJ's Chairman Ikuo Nishikawa regarding the 'Development of endorsed IFRS'.

In June 2013, Japan’s Business Accounting Council (BAC) issued its final report on the use of International Financial Reporting Standards (IFRSs) in Japan. The report recommended a number of measures, among them the introduction of 'endorsed IFRSs' with the endorsement process to be conducted by ASBJ.

The Chairman's message offers an overview of the envisaged endorsement process in three broad areas:

  • Recommendations on the IFRS Endorsement Process
  • The ASBJ’s Previous Experiences
  • How to proceed with the Endorsement Process by the ASBJ

Please click for access to the article on the ASBJ's website.

An 'Update on IFRS application in Japan' to be delivered by a representative of the Japanese Financial Services Agency (FSA) is also part of the agenda for the upcoming meeting of the IASB's IFRS Advisory Council - please click for access to the agenda paper for the update on the IASB's website.

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