Asian Oceanian Standard Setters Group
BDASC is a member of the Asian-Oceanian Standard-Setters Group (AOSSG), which is a grouping of the accounting standard-setters in the Asia-Oceania region. The AOSSG has been formed to discuss issues and share experiences on the adoption of International Financial Reporting Standards (IFRS) and to contribute to the development of a high-quality set of global accounting standards. The AOSSG plans to play an important role in encouraging the adoption of IFRSs in the region.
The objectives of the AOSSG are to:
i. Promote the adoption of, and convergence with, IFRSs by jurisdictions in the region;
ii. Promote consistent application of IFRSs by jurisdictions in the region;
iii. Coordinate input from the region to the technical activities of the International Accounting Standards Board (IASB); and
iv. Cooperate with government and regulators and other regional and international organisations to improve the quality of financial reporting in the region.
Brunei has been an active participant in the AOSSG meeting even before the BDASC was formed. The most recent AOSSG meeting was held in Colombo, Sri Lanka last November 2013. For more information on AOSSG, please visit their website.