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13th IFRS Digital Reporting Workshop, Tokyo

In conjunction with Nomura Research Institute, ACGA supported the 13th IFRS Digital Reporting Workshop in Tokyo, Japan on Monday, March 5, 2018. 

Mr. Takatsugu Ochi, Board Member, International Accounting Standards Board (IASB), London, delivered his keynote address on the new "IASB paper on Disaggregation & Aggregation of Accounts" to 33 participants in Tokyo and many more worldwide through a tele-link.

The issue of disaggregation and aggregation of accounts, touches upon an area of concern to ACGA in recent years, namely the low level of disclosure around operating expenses in some company accounts in the region. We believe the relevant IFRS standard is not always being interpreted in the spirit intended and that some issuers are aggregating disparate expenses under broad categories that should be separated, with limited narrative as to what the numbers mean. Part of the discussion that ensued focused on the evolving issue of materiality in the context of financial reporting.