05 July 2018

IFRS Foundation Asia-Oceania office Q1 2018 news summary

This quarterly summary has been developed to help you stay up-to-date with events involving the IFRS® Foundation's Asia-Oceania office (AO office) in Tokyo, Japan—including workshops, conferences, discussions and consultations.

16/3/18: Exchange of views with Japanese preparers

On 16 March, Board members Nick Anderson and Takatsugu Ochi attended the meeting with the Committee on Finance and Accounting of Keidanren, held at the Keidanren Kaikan Building in Tokyo. Topics discussed with the committee members included primary financial statements and goodwill accounting.


14/3/18: Investor outreach

On 14 March, an investor outreach event was held at the AO office, focusing on the issue of excessive aggregation of line items in financial statements. Users of financial statements gathered to discuss the usability of IFRS financial statements. Board members Nick Anderson and Takatsugu Ochi attended the event.


14/3/18: Event held for members of the Investors in Financial Reporting (IiFR) programme

On 14 March, the AO office organised an event for member firms of the IiFR programme, which allowed the Board to engage individually with buy-side investors from Nomura Asset Management, Sumitomo Mitsui Trust Bank, and Japan-based investors from other member firms. At this event, Board members Nick Anderson and Takatsugu Ochi outlined IFRS 9 Financial Instruments, IFRS 17 Insurance Contracts, the Primary Financial Statements project and the Disclosure Initiative project.


30/1/18-1/2/18: The Trustees' meeting in Hong Kong

The Trustees of the IFRS Foundation met in Hong Kong from 30 January to 1 February, during which they discussed the latest AO office action plan. In the activity plan, the strategic goals of the AO office are defined as:

  1. support and promotion of adoption of IFRS Standards in the Asia-Oceania region; and
  2. technical capacity development.

It was previously decided that a concrete implementation plan to achieve this would be developed when the new director was in position. The summary of the meeting, including the discussion of the AO office plan, can be found here.

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