Asian-Oceanian Standard-Setters Group (AOSSG)

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Working Party on Centres of Excellence in Developing Countries

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Relevant IFRS Standards & Projects of the WG

Facilitating the adoption of IFRS in developing jurisdictions in the region

Lead / Co-Lead

Australia

Working Group members

Australia, China, Hong Kong, India, Indonesia, Iraq, Japan, Korea, Malaysia, Nepal and Pakistan.

Project description

The aim of the Working Party is to help developing member jurisdictions to establish centres of excellence in IFRS as a basis for facilitating their adoption of IFRS. A pilot COEDC has been conducted in Nepal and further COEDCs are planned, subject to a target jurisdiction organising the relevant resources. The activities that the Working Party conducted in Nepal, and would typically plan to conduct in other developing jurisdictions, involve two main steps: (1) examining the existing standard-setting capacities of a jurisdiction and making recommendations for improvement; and (2) conducting relevant IFRS training for local trainers. The developing jurisdiction itself is responsible for the centre of excellence and is expected to build on the efforts of the Working Party.

AOSSG’s Building Regional Capacity Initiative

Papers

Title Issue date
Assessment of the Effectiveness of the Pilot COEDC Initiative in Nepal Dec 2014
Report on Standard-Setting Capacity in Nepal: Building Regional Capacity Initiative Jul 2014