This 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. It covers the 12 months from April 2019-March 2020.
IOSCO-Committee One held a meeting in Tokyo, chaired by Mr Makoto Sonoda from the Japan Financial Service Agency, in which Chair Hans Hoogervorst delivered a presentation titled ‘Accounting standards in a challenging environment’. Board Member Rika Suzuki, technical staff member Henry Rees and AO office Director Makoto Takahashi also attended the meeting.
The Japan Institute of Certified Public Accountants and Japan Foundation of Accounting Education and Learning hosted their annual IFRS Standards Seminar in Tokyo and invited the Board Vice-Chair Sue Lloyd, Board Member Rika Suzuki and Executive Technical Director Nili Shah as speakers. Lloyd and Shah delivered a speech on the Board’s technical projects, and Suzuki spoke about the Primary Financial Statements project. They also participated in a panel discussion on the Primary Financial Statements and Goodwill and Impairment projects.
The Asian-Oceanian Standard-Setters Group (AOSSG) held its Eleventh Annual Meeting in Goa, India. Dr S.B. Zaware, from the Institute of Chartered Accountants of India, took over as the new AOSSG chair, and Mr Nishan Fernando from the Institute of Chartered Accountants of Sri Lanka, took over as vice-chair. Board Vice-Chair Sue Lloyd, Board member Ann Tarca and technical staff member Michelle Sansom gave updates on several of the Board’s current projects.
The Chinese, Japanese and Korean national standard-setters met in Urayasu near Tokyo for the Three Countries Standard-setters Meeting. Delegates provided updates on recent developments of accounting standards in their jurisdictions, and had in-depth discussions on revenue recognition, primary financial statements and leases. Board members Jianqiao Lu and Rika Suzuki as well as AO office Director Makoto Takahashi attended the meeting.
The IOSCO-Asia Pacific Regional Committee held a meeting in Tokyo, and IFRS Foundation Executive Director Lee White was invited to speak by the IOSCO-APRC Chair, Jun Mizuguchi. White discussed the importance of consistent application of IFRS Standards with key stakeholders from jurisdictions in the Asia-Oceania region.
The Japan Securities Dealers Association hosted the Asia Securities Forum Tokyo Round Table, attended by Asian securities markets officials. AO office Director Makoto Takahashi was invited as a speaker and he explained the role of the AO office and its activities.
In May 2019 Chair of the Board Hans Hoogervorst met with the Japan Financial Services Agency, the Securities Analysts Association of Japan, the Japanese Institute of Certified Public Accounts and other stakeholders. The trip was made with Board Member Tak Ochi, in his final appearances for the Board before his term ended.
Hoogervorst also attended meetings hosted by the Accounting Standards Board of Japan, the Financial Accounting Standards Foundation and the Japan Business Federation (Keidanren), taking the opportunity to update stakeholders on the Goodwill and Impairment project and other projects the Board is working on.