Recent Approvals
On this page, we provide a full list of recently issued accounting standards by the XRB in order of issue date.
Effective dates fully set out in the relevant standard or amending standard.
We have also developed two guides to help you identify new accounting standards which are effective based on your reporting period.
For-profit
New Zealand Accounting Standards effective for the first time from 1 January 2020
Select your balance date:
Not-for-profitPublic Sector
New Zealand Accounting Standards effective for the first time from 1 January 2020
Select your balance date:
2021
For-profit
| Issued | Standard/Amending standard | Effective date1 | Access the document |
|---|---|---|---|
| Jul 2021 |
Amendment to NZ IAS 12 - Deferred Tax related to Assets and Liabilities arising from a Single Transaction |
1 Jan 2023 | Amending Standard |
| Apr 2021 |
Covid-19-Related Rent Concessions beyond 30 June 2021 |
1 Apr 2021 | Amending Standard |
| Mar 2021 | Disclosure of Accounting Policies | 1 Jan 2023 | Amendment to NZ IAS 1 |
| Mar 2021 | Definition of Accounting Estimates | 1 Jan 2023 | Amendment to NZ IAS 8 |
Not-for-profitPublic Sector
| Issued | Standard/Amending standard | Effective date1 | Access the document |
|---|---|---|---|
| Feb 2021 | Editorial corrections to PBE Standards | Immediate | Editorial Corrections |
2020
For-profit
| Issued | Standard/Amending standard | Effective date1 | Access the document |
|---|---|---|---|
| Dec 2020 | Editorial corrections to NZ IFRS | Immediate | Editorial Corrections |
| Sep 2020 | Interest Rate Benchmark Reform—Phase 2 | 1 Jan 2021 | |
| Aug 2020 | Amendments to NZ IFRS 17 | 1 Jan 2023 | |
| Aug 2020 |
Extension of the Temporary Exemption from Applying NZ IFRS 9 |
1 Jan 2021 | |
| Aug 2020 | Classification of Liabilities as Current or Non‑current—Deferral of Effective Date (to 1 January 2023) |
1 Jan 2022 | |
| Aug 2020 |
Going Concern Disclosures (Amendments to FRS-44) |
Annual periods ending on or after 30 September 2020 | |
| Jun 2020 | Reference to the Conceptual Framework | Jan 2022 | |
| Jun 2020 | Annual Improvements to NZ IFRS 2018–2020 | Jan 2022 | |
| Jun 2020 | Onerous Contracts—Cost of Fulfilling a Contract | Jan 2022 | |
| Jun 2020 | Property, Plant and Equipment Proceeds before Intended Use | Jan 2022 | |
| Jun 2020 | Covid-19-Related Rent Concessions | Jun 2020 | |
| Apr 2020 | Classification of Liabilities as Current or Non-current | Jan 2022 |
Not-for-profitPublic Sector
Not-for-profitPublic Sector
| Issued | Standard/Amending standard | Effective date1 | Access the document |
|---|---|---|---|
| Nov 2020 | PBE Interest Rate Benchmark Reform—Phase 2 | 1 Jan 2021 | |
| Aug 2020 | Amendments to PBE IFRS 17 | 1 Jan 2023 | |
| Aug 2020 |
2020 Amendments to PBE FRS 48 - Deferral of effective date to 1 January 2022 |
1 Jan 2021 | Amending standard |
| Aug 2020 |
Going Concern Disclosures (Amendments to PBE IPSAS 1) |
Annual periods ending on or after 30 September 2020 | Amending standard |
| Feb 2020 | PBE Interest Rate Benchmark Reform | Jan 2020 | |
| Feb 2020 | Withdrawal of PBE FRS 46 (Amendments to PBE FRS 47) |
Jan 2021 |
|
| Feb 2020 | Revocation of PBE FRS 46 |
Jan 2021 |
2019
For-profit
| Issued | Standard/Amending standard | Effective date1 | Access the document |
|---|---|---|---|
| Nov 2019 | Interest Rate Benchmark Reform | Jan 2020 | |
| Sep 2019 | 2019 Omnibus Amendments to NZ IFRS |
Jan 2020 |
|
| May 2019 | 2019 Amendments to XRB A1 Appendix A – When is an Entity a Public Benefit Entity? |
Jan 2020 |
Not-for-profitPublic Sector
| Issued | Standard/Amending standard | Effective date1 | Access the document |
|---|---|---|---|
| Oct 2019 | PBE Standards Editorial Corrections (Oct 2019) | ||
| Aug 2019 | Uncertainty over Income Tax Treatments (Amendments to PBE IAS 12) |
Jan 2020 |
|
| Jul 2019 | PBE IFRS 17 Insurance Contracts |
Jan 2022 |
|
| Jul 2019 | PBE IPSAS 40 PBE Combinations |
Jan 2021 |
|
| May 2019 | 2019 Amendments to XRB A1 Appendix A – When is an Entity a Public Benefit Entity? |
Jan 2020 |
|
| Mar 2019 | PBE IPSAS 41 Financial Instruments |
Jan 2022 |
|
| Mar 2019 | Effective Date of PBE IFRS 9 |
Jan 2020 |
2018
For-profit
| Issued | Standard/Amending standard | Effective date1 | Access the document |
|---|---|---|---|
| Dec 2018 | Definition of Material (Amendments to Conceptual Frameworks) | Jan 2020 | Conceptual Framework |
| Dec 2018 | Definition of Material (Amendments to NZ IAS 1 and NZ IAS 8) | Jan 2020 | |
| Dec 2018 | Definition of a Business (Amendments to NZ IFRS 3) | Jan 2020 | NZ IFRS 3 |
| Jul 2018 | RDR NZ IFRS 16 and NZ IAS 7 | Jan 2019 | |
| May 2018 | Amendments to the Scope of FRS-42 |
Jan 2019 | FRS-42 |
| May 2018 | New Zealand Equivalent to the IASB Conceptual Framework for Financial Reporting (2018 NZ Conceptual Framework) | Jan 2020 | Conceptual Framework |
| May 2018 | Updating References to the Conceptual Framework in NZ IFRS | Jan 2020 | Updating references to the Conceptual Framework |
| Mar 2018 | Plan Amendment, Curtailment or Settlement (Amendment to NZ IAS 19) | Jan 2019 | NZ IAS 19 |
| Feb 2018 | Annual Improvements to NZ IFRSs 2015–2017 Cycle | Jan 2019 | Annual Improvements |
2018
Not-for-profitPublic Sector
| Issued | Standard/Amending standard | Effective date1 | Access the document |
|---|---|---|---|
| Nov 2018 | 2018 Omnibus Amendments to PBE Standards |
Jan 2019 Jan 2021 |
|
| Jul 2018 | 2018 Omnibus Amendments to Tier 3 and Tier 4 PBE Accounting Requirement | Jan 2019 |
