The consultation concerns revisions to the designation of corporate accounting standards set by the Commissioner under rules governing consolidated financial statements.
Japan’s Financial Services Agency opened a public comment process on an amendment to the notice that designates the corporate accounting standards set by the Commissioner under the regulation on terminology, forms and preparation methods for consolidated financial statements. The agency said the consultation began today and directed readers to an official notice for details. The move signals a formal step in Japan’s rulemaking process, where regulators solicit feedback before finalizing changes that can affect how companies prepare group-level financial reporting.