Periodic Essay

Implementing international financial reporting standards in Asia: Bringing greater transparency and comparability to Asian banks financial statements

Abstract: This Asia Focus reviews the status of the implementation of International Financial Reporting Standards (IFRS) in various Asian economies, discusses the benefits of using one set of internationally accepted accounting principles, and provides some background information on the ongoing reviews of different jurisdictions' accounting practices in connection with the federal banking agencies supervision of foreign banking organizations (FBOs) that operate in the United States.

Keywords: Accounting - Standards; Financial services industry - Asia;

Bibliographic Information

Provider: Federal Reserve Bank of San Francisco

Part of Series: Asia Focus

Publication Date: 2008

Issue: Mar