April 3, 2012

AprilThe communique of the 6th IFRS Regional Policy Forum in Kuala Lumpur on 26-27 March 2012 is now available. The theme of the Forum was 'Convergence and Beyond, Navigating Change', and discussions were related to the future of financial reporting standards, transition to IFRS, and a framework for standard setters, regulators and auditors.

March 28, 2012

The Asian-Oceanian Standard-Setters Group (AOSSG) met on 25 March 2012 in Kuala Lumpur.  The informal meeting was attended by 15 member standard setters and representatives of the International Accounting Standards Board (IASB).

AOSSG members and IASB representatives discussed current issues being deliberated by the IASB and emerging issues that are affecting the Asia-Oceania region.  In addition, AOSSG members supported developing a proposal to establish an IFRS Centre of Excellence in a developing country within Asia-Oceania.

The media release for the informal AOSSG meeting is now available. 

March 22, 2012

The AOSSG congratulates Dr Chungwoo Suh on his appointment as a member of the International Accounting Standards Board (IASB) commencing 1 July 2012 for an initial five-year term.

Dr Suh served as the Chair of the Korean Accounting Standards Board (KASB), and was an active participant in AOSSG activities from 2008 to 2011. During that time, AOSSG members have had great pleasure in working with Dr Suh and acknowledge his leadership and support of KASB’s contributions to the AOSSG.

AOSSG members look forward to working with Dr Suh in his IASB role with the aim of continuing to promote improved financial reporting within Asia-Oceania.

February 2, 2012

The AOSSG will hold an Informal Meeting co-hosted by the Malaysian Accounting Standards Board at the Shangri-La Kuala Lumpur Hotel on 25 March 2012, Sunday from 2:30PM to 5:30PM.
At the meeting, AOSSG members will discuss recent developments in active AOSSG and IASB projects with members of the International Accounting Standards Board (IASB).  Attendees at the meeting include IASB Vice-Chairman, a number of other IASB members and senior staff, and National Standard-Setters from throughout the region.

December 21, 2011

Professor Philip Brown, Professor University of New South Wales (UNSW) and Emeritus Professor University of Western Australia (UWA), spoke at the AOSSG gala dinner in Melbourne 23 November 2011. The dinner was attended by AOSSG members, IASB representatives, IFRS Foundation representatives, FRC members, AASB members and other members of the accounting profession.

Professor Brown’s speech titled Academics and Standard Setters: Partners or Protagonists? highlighted the need for closer collaboration between academics and standard setters in enhancing the debate on critical financial reporting issues internationally.

November 23, 2011

On 23 November 2011 Lynn Wood, Chair of the Financial Reporting Council, addressed the AOSSG Annual Meeting, Melbourne, Australia.

March 11, 2011

The AASB staff are leading a worldwide online survey of preparers, advisors, auditors and regulators on the initial accounting for intangible assets acquired under IFRS 3 Business Combinations and IAS 38 Intangible Assets (or similar GAAP). A separate, but similar, survey of users of financial statements is expected to be initiated in the near future. Read More