The IFRS Foundation will open its first
regional office in Tokyo to enhance communication between the
global standard setter and stakeholders in the region.
The IFRS Foundation station International
Accounting Standards Board staff in Tokyo to facilitate
consultations and provide assistance to countries using or planning
to adopt IFRS.
“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,” IFRS Foundation trustee
vice-chairman Tsuguoki Fujinuma said.
“Adoption of IFRS is widespread in
Asia-Oceania. Here in Japan, companies are now permitted to use
IFRS and the Japanese FSA is expected to make a decision on
mandating adoption of IFRS in 2012.”