On 23 and 24 May 2011 the regional IFRS policy forum took place in Kuta, Bali. Jeffrey Lucy, IFRS Foundation Trustee, Sir David Tweedie, IASB Chairman, Warren McGregor and Tatsumi Yamada, IASB members, all attended the forum. Given that many countries in the region will be converging with IFRSs over the coming years, the forum was themed ‘Towards One Global Standard: The Challenges and Opportunities of IFRS Adoption in the Asia-Oceania Region’.