On 25 June 2015, an international conference on the evaluation of the IAS Regulation was held in Riga, Latvia. It focused on potential impacts of the regulation on business development and globalisation. One of the panels, which featured Michel Prada, Chairman of the IFRS Foundation Trustees, Russ Golden, Chairman of the Financial Accounting Standards Board (FASB), and Yukio Ono, Chairman of the Accounting Standards Board of Japan (ASBJ) discussed “The future course of global quality standards. Are truly global standards achievable?”.