IASB Seminar
2023 10.30 mon. 15:30-18:00

“IFRS Accounting Standards Update”

hosted jointly by the FASF and the JICPA

This seminar has ended.
You can watch the recording of the seminar from the following until February 28th 2024.
Event Overview
Event Name
：IASB Seminar　“IFRS Accounting Standards Update”
Date
：Monday 30th October 2023, 15:30-18:00
Location
：Otemachi Place Conference Center
https://otemachi-place-conferencecenter.jp/en/access
Language
：English/Japanese (Simultaneous Interpretation Provided)
Fee
：Free to attend
Co-Hosts
：The Japanese Institute of Certified Public Accountants
Financial Accounting Standards Foundation
Sponsorship
： Financial Services Agency
Japan Exchange Group, Inc./ Tokyo Stock Exchange, Inc.
KEIDANREN (Japan Business Federation)
The Securities Analysts Association of Japan
IFRS Foundation Asia-Oceania office
Japan Foundation for Accounting Education and Learning

About the Seminar

IFRS 16 “Leases”, which was published in January 2016, requires lessees to account for assets and liabilities for all leases, including operating leases, using a right-of-use model that records right-of-use assets and lease liabilities. It is scheduled to be recorded and will be applied from fiscal years starting on or after January 1, 2019.
On the other hand, Japanese standards continue to be developed with the aim of making them consistent with international accounting standards, namely IFRS accounting standards, including lease accounting standards and accounting standards for impairment of financial instruments. Among these, the ASBJ developed a lease accounting standard that records assets and liabilities for all leases of lessees, and on May 2, 2023, the ASBJ released for public comment the Exposure Draft of Accounting Standard for Leases (Exposure Draft of Statement, No.73) and are currently being considered for final standardization.

Climate change is a topic of increasing interest to investors and other stakeholders because of its potential to impact companies' business models, cash flows, financial position, and performance. Therefore, in November 2020, the IASB published an educational material explaining that IFRS Accounting Standards already require accounting for the effects of climate-related and other uncertainties in financial statements. Nevertheless, feedback from the IASB's Third Agenda Consultation indicated that the project on climate-related and other uncertainties in financial statements is a high priority, and the project will be added to the work program in March 2023. Furthermore, the above educational materials have been revised in July 2023 .
Interest in sustainability information is growing even more in Japan, and climate-related and other uncertainties are likely to have a significant impact on corporate financial reporting in Japan. It is important to keep an eye on the IASB's efforts to see if it can do so.

In this seminar, IASB will welcome Linda Mezon-Hutter (IASB Vice-Chair), Rika Suzuki (IASB Board Member), Patrina Buchanan (IASB Board Member), and Bruce Mackenzie (IASB Board Member), who will give lectures on the latest trends in activities and projects undertaken by the IASB, as well as we will take up the theme of “leases” and “climate-related and other uncertainties” and will deepen discussions with key stakeholders in Japan.

Please join us for this seminar that will shed light on the future vision of Japanese GAAP and IFRS accounting standards.

PROGRAM

15:30 Opening remarks Tetsuya Mogi, Chairman and President, JICPA
15:35 Presentation IASB Update Linda Mezon-Hutter, IASB Vice-Chair
15:55 Presentation Primary Financial Statements Rika Suzuki, IASB member
16:15 Panel discussion ❶
Leases
The ASBJ issued an Exposure Draft to adopt many of the requirements in IFRS 16. What are the concerns of the Japanese constituents and how do IASB representatives look at those concerns? 		Panelists
● Patrina Buchanan, IASB member
● Yozo Sato, Assistant to GM, Senior Fellow, Corporate Accounting & Finance, Asahi Kasei Corporation
● Jun Goto, Managing Director, Deputy Head of Credit Rating Division, Head of Corporate Finance Dept. IV, Chief Analyst, Rating and Investment Information, Inc.
● Toru Yoshioka, Partner, Pricewaterhouse Coopers Aarata LLC
Moderator
● Nami Yamaguchi, Board member (full-time), the Accounting Standards Board of Japan (ASBJ)
17:00 Break（10min）  
17:10 Panel discussion ❷
Climate-related and Other Uncertainties in the Financial Statements
The IASB is undertaking a project on climate-related risks in the financial statements. What is the objective of this project and how does it relate to the ISSB’s work on climate change? What are the expectations of the Japanese community?		 Panelists
● Bruce Mackenzie, IASB member
● Michiaki Matsumoto, Senior Manager, Head of Department, Financial Accounting & Tax Dept., Accounting & Finance Div., Nippon Steel Corporation (April, 2021-present)
● George Iguchi, CMA/CFA Nissay Asset Management, Executive Officer/Chief Corporate Governance Officer/Deputy Head of Investment Division
● Chika Saka, Professor, the School of Business Administration, Kwansei Gakuin University
● Emi Chujo, Board member (full-time), the Accounting Standards Board of Japan (ASBJ) and the Sustainability Standards Board of Japan (SSBJ)
Moderator
● Eriko Otokozawa, Executive Board Member, JICPA
17:55 Closing address Yasunobu Kawanishi, Chair (full-time), the Accounting Standards Board of Japan (ASBJ) and the Sustainability Standards Board of Japan (SSBJ)

You can download the seminar materials.

IASB Update_Linda Mezon-Hutte 　 Download

Presentation Primary Financial Statements_Rika Suzuki 　 Download

Panel Discussion 2_Climate-related and Other Uncertainties in the Financial Statements 　 Download

SPEAKERS

Speech
Linda Mezon-Hutter

IASB Update

Linda Mezon-Hutter
IASB Vice-Chair

Ms. Linda Mezon-Hutter joined the IASB on 12 September 2022 for a five-year term and was appointed IASB Vice-Chair from 1 January 2023. Previously, she was chair of the Accounting Standards Board (AcSB) in Canada from 2013 to 2022, also serving as a board member from 2004 to 2013. Her time with the AcSB encompassed the adoption of IFRS Standards.
Prior to this, she was the Chief Accountant at the Royal Bank of Canada, responsible for the interpretation and application of IFRS Standards and U.S. GAAP. She has also held other senior positions in industry and has four years of experience in public accounting.
She was named a fellow of the Institute of Chartered Accountants of Ontario in 2013, is a Certified Public Accountant (Michigan) and Chartered Global Management Accountant (CGMA), holds a BA in Accounting from Michigan State University and an MBA from the University of Detroit.

鈴木 理加

PFS

Rika Suzuki
IASB member

Ms. Suzuki was appointed to the International Accounting Standards Board in July 2019. She was the IFRS Leader and Assurance Partner of PwC Aarata LLC in Japan, where she provided advice on accounting and reporting issues under IFRS Standards, Japanese GAAP and US GAAP. She also supervised IFRS transition and application for large multinationals and other listed companies.
She was also a member of the Accounting Standards Board of Japan (ASBJ)’s Special Committee for IFRS Implementation. She also chaired the Japanese Institute of Certified Public Accountants (JICPA)’s Working Groups for Japan’s Modified International Standards (JMIS) and Revenue Recognition.
She qualified as a Certified Public Accountant in Japan.

JICPA
Contact us
The Japanese Institute of Certified Public Accountants
Corporate Accounting
MAIL: ifrs-seminar@sec.jicpa.or.jp
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