Domestic standards may be developed for for-profit entities and PBEs. The PBE Simple Format Reporting Standards for Tier 3 and Tier 4 PBEs are domestic standards..
The process the NZASB follows is set out below.
You can read this in conjunction with the commentary on Process 4 in the following document:
The steps in the diagram below refer to the steps in the commentary in EG A2.