Officials from the Japanese Financial Services Agency and the European Commission met in Tokyo on 27 November 2006 to discuss the progress made by Japan towards converging with International Financial Reporting Standards.
The European Financial Reporting Advisory Group (EFRAG) and the Instituto de Contabilidad y Auditoría de Cuentas (or ICAC) have published a Discussion Paper on performance reporting entitled 'What (if anything) is wrong with the good old income statement?' It is the second paper issued under the auspices of the Pro-active Accounting Activities in Europe (PAAinE).