Asian-Oceanian Standard-Setters Group (AOSSG)

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Asian-Oceanian Standard-Setters Group (AOSSG)

19 Mar. 2015

AOSSG Strategic Plan 2015 - 2019

The AOSSG has published its strategic plan for 2015-2019. This papers describes the key AOSSG activities as well as other activities that will be considered in the following years.

AOSSG Office Bearer News

The AOSSG congratulates Mr Djohan Pinnarwan for his appointment as incoming Chair of the Indonesian Financial Accounting Standards Board (Dewan Standar Akuntansi Keuangan – DSAK IAI). AOSSG members look forward to working with Mr Pinnarwan in his new role with the aim of continuing to promote improved financial reporting within Asia-Oceania.

At the same time, AOSSG members express their utmost gratitude to Ms Rosita Uli Sinaga, the outgoing Chair of DSAK IAI, for her contributions to the AOSSG over her term at the DSAK IAI. AOSSG members have had great pleasure in working with Ms Sinaga and are very grateful for her support of AOSSG activities.

11 Mar. 2015

The AOSSG has published its findings on a study of the financial statements of 132 Islamic financial institutions (IFIs) from 31 jurisdictions.

Of the sampled IFIs, 46% stated compliance with International Financial Reporting Standards (IFRS), 18% with financial accounting standards issued by the Accounting and Auditing Organization for Islamic Financial Institutions (AAOIFI), and most of the remaining samples complied with a local reporting framework.

Regardless of the standards complied with, the study noted differing treatments in three main areas: ijarah, customer investment accounts and recognition and measurement of finance income.

The study also found that in some cases a market regulator or central bank may over-ride a requirement determined by an accounting standard-setter.

The study concluded that AOSSG may need to engage with regulators and central banks to promote the use of IFRS by IFIs.

16 Feb. 2015

The Korea Accounting Review International Symposium (KARIS), co-hosted by the Korean Accounting Association (KAA) and the Korea Accounting Standards Board (KASB), will be held in Seoul on 31 March 2015. At this symposium, participants will have an opportunity to discuss the effects of IFRS adoption, accounting information and firm value.

Speakers include Hans Hoogervorst, chairman of the IASB, James Ohlson, professor at New York University and world renowned scholar in valuation, and other prominent presenters from Japan and Taiwan.

  • Time and Date: 2pm - 6pm, Tuesday 31 March, 2015
  • Venue: Conference Room, 2/F, Financial Supervisory Service

    (38 Yeoui-daero, Youngdeungpo-gu, Seoul, 150-743)

  • Organizer: Korean Accounting Association (KAA) & Korea Accounting Standards Board (KASB)
  • Sponsor: Financial Supervisory Service (FSS) & The Korea Economic Daily

More details on the symposium are available here.

If you have queries about the symposium, please contact:

Hyejung Lee ( This e-mail address is being protected from spambots. You need JavaScript enabled to view it )
Won-Hee Han ( This e-mail address is being protected from spambots. You need JavaScript enabled to view it )

30 Jan. 2015

The AOSSG has submitted its comment letter on the IASB DP/2014/2 Reporting the Financial Effects of Rate Regulation.

30 Jan. 2015

The AOSSG has submitted its comment letter on the IASB ED/2014/4 Measuring Quoted Investments in Subsidiaries, Joint Ventures and Associates at Fair Value.