Adoption of IFRS in Japan: Challenges and consequences

Noriyuki Tsunogaya, Andreas Hellmann, Simone Domenico Scagnelli

Research output: Chapter in Book/Report/Conference proceedingConference abstractpeer-review


Japan allows the optional application of International Financial Reporting Standards (IFRS) since March 2010 for consolidated financial statements of listed companies. Using the accounting ecology framework and reviewing the opinions of key stakeholders included in the minutes of the Business Accounting Council of Japan, the objective of this paper is to provide a rigorous and holistic analysis of the unique features of the Japanese accounting environment. It also raises issues related to a mandatory adoption of IFRS in Japan. The findings of this study provide evidence that it would be problematic to require the adoption of IFRS, mainly because Japanese policymaker and standard-setting body should follow two objectives, namely enhancing the international comparability of financial reporting and maintaining institutional complementarity between the financial reporting and other infrastructures such as accounting-related laws.
Original languageEnglish
Title of host publicationEAA 2013
Subtitle of host publicationEuropean Accounting Association 36th Annual Congress
Place of PublicationParis
PublisherEuropean Accounting Association
Number of pages1
Publication statusPublished - 2013

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