The hypothetical ongoing shift of geo-economic center of gravity     from the developed economies concentrated in the West to the emerging     economies concentrated in the East, given that it was true, is very     interesting and is supposed to bring pervasive and strategic implications     to the Indonesian economy, business and accounting world. The     ASEAN Charter 2007, ratified by the Indonesian Parliament in 2008,     was committed by ASEAN leaders during the hypothetical shift. The     Charter commits ASEAN 10 member countries to become one solid economic     community, one solid socio-cultural community and one solid security     community by 2015. This article refers to a secondary data based     economic policy research on the shift and the Charter, and their bearings     and implications on the accounting profession, financial accounting     regulation and standard setting in Indonesia. In addition, the author     also develops a theology of happenings which affirms the aforesaid     shift.