Representatives of the IASB and the ASBJ hold bilateral meeting in Japan

Representatives of the International Accounting Standards Board (IASB) and the Accounting Standards Board of Japan (ASBJ) held a bilateral meeting on 27 February 2023 in Tokyo, Japan.

At this meeting, representatives of the IASB and the ASBJ provided updates on their respective activities and discussed agenda items such as issues related to the international tax reform (the Pillar Two model rules); Business Combinations—Disclosures, Goodwill and Impairment; and Primary Financial Statements.

The IASB and the ASBJ plan to continue to exchange views.

Andreas Barckow, Chair of the IASB, said:

I would like to thank ASBJ Chair Nobu-san and colleagues for their longstanding commitment and support for the IASB and IFRS Accounting Standards. Such exchanges help enhance each Board’s understanding of the counterpart’s arguments to the mutual benefit of both Boards. I am looking forward to deepening our well-established and trusted relationship.

Yasunobu Kawanishi, Chair of the ASBJ, said:

On behalf of the ASBJ, it is our pleasure to welcome the representatives of the IASB to Tokyo, in particular Linda Mezon-Hutter in her new role as Vice-Chair of the IASB. At this meeting, we were able to discuss urgent issues as well as long-standing issues. The ASBJ finds these bilateral meetings extremely helpful in better understanding our respective views. The ASBJ looks forward to continuing these meetings and contributing to the development of IFRS Accounting Standards.