Visit of Japanese Delegation from August 03-05, 2011

A delegation from Japan visited ICAI from August 03-05, 2011 to exchange views on legal and regulatory and other issues arising out of application of or convergence with the IFRSs and to continue further the dialogue which was carried out last year. The 2nd India-Japan IFRS & CFO Meet was hosted by ICAI in Bangalore on August 03, 2011 and the delegation met with the Minister & Secretary, Ministry of Corporate Affairs.

The aim was to address critical issues relating to application of or convergence with IFRSs and reach consensus through process of consultation mutually agreed to; Promote the profession’s role, responsibilities and achievements in advancing the interests of accountancy profession and in serving the public interest ; Foster a strong and cohesive profession by providing leadership on emerging issues, coordinating with global, other regional, intra-regional organizations, member bodies and associates to achieve appropriate strategic objectives.

The said Forum was participated by representatives of various regulators namely Securities and Exchange Board of India, Comptroller & Auditor General of India, Controller General of Accounts, Pension Fund Regulatory and Development Authority, Central Board of Direct taxes, reserve Bank of India , Insurance Regulatory and Development Authority and Industry Chambers.