In addition to representatives from the three countries' standard-setting bodies, observers from the IASB and guests from Hong Kong and Macao attended the meeting.

The three countries presented and shared experiences and views on the following accounting topics:

• recent activities relating to the progress of International Financial Reporting Standard (IFRS);
• implementation and development of their local accounting standards in each of their jurisdictions;
• income taxes (international tax reform);
• cryptoassets; and
• leases.

The delegates also agreed to work together to reinforce their commitment towards IFRS Accounting Standards as a single set of high-quality global accounting standards, to proactively identify and research potential standard-setting issues to contribute to the IASB’s work,and to enhance communication among the three countries with a view to sharing opinions and experiences to enable consistent application of IFRS Accounting Standards in the region.

Please click for the full communiqué (link to ASBJ website).