FASB Meets With Accounting Standards Board of Japan

The FASB met with the Accounting Standards Board of Japan (ASBJ) on August 16, 2024, in Norwalk, Connecticut. This meeting is the 34th in a series of meetings the two standard setters have held in an effort to foster their “cooperative efforts to develop high-quality global accounting standards.” In addition to updating each other on their “respective activities,” the two boards “discussed agenda items in which [they] have interest, such as the accounting for environmental credit programs and improving the Post-implementation Reviews (PIR) process.”

The next meeting between the FASB and ASBJ is scheduled for the first half of 2025 in Tokyo. For more information about the August 16 meeting, see the press release on the FASB’s Web site.