Issuance of the amendments to “Japan’s Modified International Standards (JMIS): Accounting Standards Comprising IFRSs and the ASBJ Modifications”
27 December 2018
The Accounting Standards Board of Japan (‘ASBJ’) undertakes the endorsement process on the Standards and Interpretations (collectively referred to as ‘Standards’) issued by the International Accounting Standards Board (‘IASB’) and issues “Japan’s Modified International Standards (JMIS): Accounting Standards Comprising IFRSs and the ASBJ Modifications”. To date, JMIS have been issued as a result of the endorsement process covering Standards issued by the IASB by 30 June 2017, except for IFRS 16 Leases and IFRS 17 Insurance Contracts.
For this round, the ASBJ undertook the endorsement process on IFRS 16 and Standards issued by the IASB between 1 July 2017 and 31 December 2017. Today, the ASBJ issued the amendments to “Japan’s Modified International Standards (JMIS): Accounting Standards Comprising IFRSs and the ASBJ Modifications”, which were approved at its 399th Board meeting held on 26 December 2018.
The ASBJ issued the Exposure Draft on the amendments to JMIS for public comment on 18 June 2018. Having considered the comments received on the Exposure Draft, the ASBJ finalised the amendments to JMIS.
How to access the amendments to JMIS
The amendments to JMIS and the related documents are available below
Application of “Japan’s Modified International Standards” (full version)
Application of “Japan’s Modified International Standards” (comparative version)
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