Issuance of JMIS Exposure Draft No. 5, Proposed amendments to “Japan’s Modified International Standards (JMIS): Accounting Standards Comprising IFRSs and the ASBJ Modifications”

31 October 2017

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 has been issued as a result of the endorsement process covering IFRS 15 Revenue from Contracts with Customers and related amendments to Standards as well as the Standards issued by the IASB as at 31 December 2016 which become effective by 31 December 2017.

For this round, the ASBJ undertook the endorsement process mainly on the amendments made by IFRS 9 Financial Instruments issued in July 2014. Today, the ASBJ issued JMIS Exposure Draft No. 5, Proposed amendments to “Japan’s Modified International Standards (JMIS): Accounting Standards Comprising IFRSs and the ASBJ Modifications”, which was approved at its 371st Board meeting held on 26 October 2017.

How to access the Exposure Draft

The Exposure Draft and the related documents are available below.