FASB and ASBJ hold biannual meeting
16 Oct 2014
The seventeenth meeting between representatives of the Financial Accounting Standards Board (FASB) and the Accounting Standards Board of Japan (ASBJ) was held in Tokyo on 14 and 15 October 2014. The meeting saw updates on each board's respective standard-setting activities and an exchange of views on technical topics that are of interest to both boards.
The FASB and the ASBJ also discussed the following projects that the International Accounting Standards Board (IASB) is currently deliberating:
They also discussed the FASB's disclosure framework project.
The FASB and ASBJ will continue to meet, with another meeting to be scheduled for the first half of 2015 in Norwalk. The boards believe that their efforts will contribute to high-quality global accounting standards, with the FASB stressing "greater comparability" of standards and the ASBJ noting that the joint discussions of the boards "will contribute to the development of our respective domestic standards as well as IFRSs developed by the IASB".
Please click for the joint press release published on the ASBJ website.
