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New Zealand

  • New Zealand issues 'simple format' standards

    26 Nov 2013

    The New Zealand External Reporting Board (XRB) and New Zealand Accounting Standards Board (NZASB) have released two new series of standards which provide a 'simple format reporting package' for eligible not-for-profit and public sector public benefit entities. The new standard series implement further parts of the revised New Zealand Accounting Standards Framework and provide eligible entities with either a simplified accrual basis of accounting, or guidance on how to report using the cash basis.

  • New Zealand releases final proposals to implement its new Accounting Standards Framework

    14 Nov 2013

    The New Zealand Accounting Standards Board (NZASB) has released a fifth package of exposure drafts dealing with proposed accounting standards applying to not-for-profit public benefit entities. The exposure drafts propose enhancements to existing New Zealand Public Benefit Entity Accounting Standards (PBE Standards) to make them appropriate for the top two 'tiers' of not-for-profit entities.

  • New Zealand provides more clarity around standard setting for 'public benefit entities'

    16 Oct 2013

    The New Zealand External Reporting Board (XRB) has released a new policy paper that provides a 'development principle' as to how standards should be set for the public benefit entities (PBEs) including public sector entities and not for profit entities. The paper builds on the existing guidance in the New Zealand Accounting Standards Framework and outlines more detail about how competing developments will be considered in setting so-called 'PBE Standards', which are primarily based on International Public Sector Accounting Standards (IPSAS).

  • New Zealand XRB proposed Accounting Standards Framework

    19 Mar 2012

    The New Zealand External Reporting Board (XRB) has released a communiqué summarising the main matters considered at its meeting held on 13 March 2012, including the Board's decisions about the new Accounting Standards Framework.