The IFRS Foundation, the oversight body of the London-based International Accounting Standards Board (IASB), intends to open an office in Tokyo for enhanced liaison in the Asia-Oceania region. While the IASB technical staff will remain based in London, the establishment of the Tokyo office will expand opportunities for direct contact between the IFRS Foundation and its stakeholders in the region. The IFRS Foundation anticipates that Foundation and IASB resources will be deployed in Tokyo to assist in ongoing consultations and to provide assistance to those countries using or planning to adopt IFRSs.
“This important announcement reflects a strong regional commitment to international standards, and the need for the views of Asia-Oceania stakeholders to be adequately considered during the IASB’s decision-making process. Adoption of IFRSs is widespread in Asia-Oceania. Here in Japan, companies are now permitted to use IFRSs, and the Japanese FSA is expected to make a decision on mandating adoption of IFRSs in 2012," says Tsuguoki (Aki) Fujinuma, vice-chair of the IFRS Foundation Trustees in Tokyo.
MORE ARTICLES ON IFRS