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JICPA issued a summary of the report on the findings it made during the visit to the EU to explore the experiences and challenges in the shift to IFRS.
“We believe that there is now an urgent need to seriously consider ways to adopt IFRS also in
Further issues to be addressed in
• It would be appropriate to give listed companies the option of using IFRS only for their consolidated financial statements, while Japanese GAAP remain to be used for non-consolidated financial statements.
• An IFRS implementation roadmap for
• Education and training on IFRS are indispensable