Japan's Voluntary IFRS Adoption Puts Pressure on USA.

Published: December 20, 2009

Japan's Financial Services Authority put pressure on the U.S. to adopt International Financial Reporting Standards after it said it would allow voluntary domestic use of the standards. Japan had been the biggest country after the U.S. to hold out on adopting the standards.

"The FSA's decision to permit domestic use of IFRS represents a first step towards a mandatory use of IFRS in Japan, and is an important milestone on the path towards global standards" said International Accounting Standards Board Chairman Sir David Tweedie in a statement/p>

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