Financial Accounting Standards Foundation
Accounting Standards Board of Japan
Sustainability Standards Board of Japan

Roundtable Meeting with Sir David Tweedie, Chairman of the IASB

On the morning of April 9, 2008, Accounting Standards Boards of Japan (ASBJ) held a roundtable meeting with Sir David Tweedie, Chairman of the International Accounting Standards Board (IASB), at the Imperial Hotel in Tokyo, inviting more than 30 participants who are involved in accounting system as government officials, executives, auditors and academics.

The main agenda of the meeting was to inform the participants of recent developments of the International Financial Reporting Standards (IFRS). The presentation of Chairman Tweedie was followed by an active question-and-answer session. The participants’ questions included comments about the IASB projects and requests regarding the constitutional review of the International Accounting Standards Committee Foundation (IASCF). Chairman Tweedie responded to the questions and the comments in details.

Contents of the Chairman Tweedie’s presentation
 “Worldwide Adoption of IFRSs”

  • Benefits of Shared Standards
  • The World Is Getting Smaller
  • IFRS around the World
  • FASB/IASB Agreement
  • MoU between FASB & IASB
  • MoU – Short Term Projects
  • MoU – Milestones
  • Outcome of Convergence under MoU
  • Principle-based Standards
  • Rule-based Standards
  • Recent Developments in US
  • The Future