Singapore Hosts The 2010 International Financial Reporting Standards Regional Policy Forum On 13 May 2010

SINGAPORE HOSTS THE 2010 INTERNATIONAL FINANCIAL REPORTING STANDARDS REGIONAL POLICY FORUM ON 13 MAY 2010

  1. The Accounting Standards Council, with the joint support of the Ministry of Finance and the Accounting & Corporate Regulatory Authority, will be hosting the 2010 International Financial Reporting Standards (IFRS) Regional Policy Forum in Singapore on 13 May 2010. Mrs Lim Hwee Hua, Minister in Prime Minister's Office, Second Minister for Finance and Transport, will be giving the keynote speech at the Forum.

  2. The IFRS Regional Policy Forum is a key platform in the Asian-Oceanic region for standards setters, policy makers, regulators and governments to come together to discuss wider issues concerning the diverse roles of financial reporting and how financial reporting has an impact on policy formulation and implementation. The Forum in Singapore has received overwhelming response from participants in the region and will be attended by over 100 senior representatives from the international accounting standard-setters community, central banks, financial market regulators, tax authorities, governments, securities exchanges, audit practitioners and academia.

  3. This will be the first time the IFRS Regional Policy Forum is being hosted in ASEAN. The Singapore Forum will be the fourth in the series, with the past IFRS Regional Policy Forums being hosted by Australia and New Zealand jointly in 2005, Japan in 2007 and China in 2009. Countries that will be represented at the Forum in Singapore include Australia, Brunei, China, India, Indonesia, Japan, South Korea, Macau SAR, Malaysia, New Zealand, Singapore, Thailand, UK and USA. Trustees of the International Accounting Standards Committee Foundation and Sir David Tweedie, Chairman of the International Accounting Standards Board, will also be attending the Forum.

  4. The theme for the 2010 IFRS Regional Policy Forum in Singapore is "Beyond the Global Crisis - Making Financial Reporting More Relevant to Stakeholders' Needs". Participants will be sharing and discussing key perspectives on the status of global IFRS convergence and adoption, policy implications and considerations pertaining to the development of the IFRS, lessons learnt from the global financial crisis and its impact on the future of financial reporting.

  5. The full programme for the 2010 IFRS Regional Policy Forum in Singapore is as attached here.