India and Japan have established a joint working group on the issues relating to application of/ or convergence with the IFRS. The 3rd India-Japan Forum 2012 held on November 19, 2012 in Japan was as important source to raise awareness of the dialogue on implementation of IFRS between the two countries. A delegation from India comprising of representatives from ICAI, IRDA, SEBI, IRDA, C&AG, MCA visited Japan to exchange views on legal and regulatory and other issues arising out of application of or convergence with the IFRSs and to continue further the dialogue which was carried out last year. CA. Amarjit Chopra, Past President, ICAI ; CA. Mahesh P Sarda, Council Member, ICAI and Dr. Avinash Chander, Technical Director, ICAI represented ICAI in the forum.