Joint working group agreed to advance the use of IFRS in China
24 Nov 2015
The IFRS Foundation and the Chinese Ministry of Finance have announced that they will work together to explore possibilities to advance the use of IFRS within China.
A joint statement, available on the IASB's website, contains the following key features:
- The IFRS Foundation and the Chinese Ministry of Finance will establish a joint working group to advance the use of IFRS within China, especially for internationally oriented Chinese companies.
- Both parties support the vision of Chinese Accounting Standards to become fully converged with IFRS Standards.
- Both parties will encourage continued co-operation between the IASB and Chinese stakeholders in the future development of IFRS Standards.
Please click to access the press release on the IASB website.
