US and Japan discuss global convergence

Representatives of the US Financial Accounting Standards Board (FASB) and the Accounting Standards Board of Japan (ASBJ) recently met in Tokyo for a joint meeting to discuss global convergence. Led by Robert H. Herz, Chairman of the FASB, and Ikuo Nishikawa, Chairman of the ASBJ, the meeting was the fifth in a series of discussions between FASB and ASBJ designed to enhance dialogue between the two Boards in their shared pursuit of global convergence of accounting standards. (Read the ASBJ Press Release.)