What's New (Nov, 2009)

November 30,2009

The JICPA submitted comments on IASCF discussion document: Part 2 of the Constitution Review: Proposals for Enhanced Public Accountability.

JICPA's comment letter to the IASCF can be obtained at:

The JICPA submitted comments on IASCF discussion document: Part 2 of the Constitution Review: Proposals for Enhanced Public Accountability. JICPA's comment letter to the IASCF can be obtained at:(PDF · 11P · 661.8KB)

November 20,2009

A couple of international conferences were held at the headquarters of JICPA in October.

The International Accounting Standards Committee Foundation (IASCF) held the Roundtable, on Part 2 of its Review of the Foundation's Constitution, in Tokyo on October 21, 2009. Three trustees, Mr. Tsuguoki (Aki) Fujinuma, JICPA's former Chairman and President, Mr. Noriaki Shimazaki, Chairman of the Sub-committee on Accounting of Nippon Keidanren (Japan Business Federation), and Mr. Jeffrey Lucy from Australia, welcomed more than 30 participants. Those included Mr. Yamazaki, the Deputy President of JICPA, Mr. Kinoshita, the Chief Executive of JICPA, representatives of accounting firms, and overseas visitors from South Korea and Australia. The opening speech was given by Mr. Katsunori Mikuniya, Financial Services Agency of Japan Commissioner. Participants and the trustees had intensive discussions.

On October 19 and 20, 2009, a meeting was held of the International Ethics Standards Board for Accountants (IESBA) of the International Federation of Accountants (IFAC). Subsequently, IESBA members, including Mr. Richard George, its Chair, delivered a seminar focused on the recently revised IFAC Code.

November 20,2009

The 17th JICPA- Korean Institute of Certified Public Accountants (KICPA) Annual Conference was held in Seoul, at the head office of KICPA on October 15, 2009. Six delegates from JICPA attended. These were Mr. Masuda, the Chairman and President, Mr. Yamazaki, the Deputy President, Mr. Kinoshita, the Chief Executive, Mr. Ikegami, Executive Board member; and others from the secretariat. Six people from KICPA, including Mr. OuHyung Kwon, its President, attended the conference. They exchanged views on developments in accounting and auditing in the respective countries.

November 20,2009

On October 14, 2009, an IFRS Symposium, hosted by JICPA, was held at Keidanren Kaikan, in commemoration of the establishment of the Japan Foundation for Accounting Education and Learning. At the Symposium, Sir David Tweedie, Chairman of the International Accounting Standards Board (IASB), spoke on the latest developments in the financial instruments project, Mr. Tatsumi Yamada, Board Member of IASB provided an update on the revenue recognition project. Participants in the panel discussions included representatives of preparers, the standard setter, auditors, and the JICPA under the theme of "Practical solutions for IFRS implementation: what you need to do now".

November 12,2009

On November 2, 2009, the third meeting of IFRS Council was held at the Financial Accounting Standards Foundation. During this meeting, Strategic Committee for IASB and each Task Force Committee updated on recent developments surrounding the IASB and IFRSs and reported on their activities, and exchanged views on a way forward of IFRS Council. Besides, Mr. Shimazaki, a head of the delegation, briefed on the mission to Australia, which was jointly arranged among the Japan Business Federation, the JICPA, and the ASBJ, so as to unveil their experience faced when IFRSs was first applied.

For further details, please visit:
https://www.asb.or.jp/asb/asb_e/ifrs/20091102/index.jsp