NZASB Update 19/2020

Review of the Simple Format Reporting Standards

The NZASB is seeking your feedback on the Simple Format Reporting standards, guidance and templates used by smaller not-for-profit and public sector entities. 

The goal of this post-implementation review is to hear from those of you who are applying the Tier 3 and Tier 4 standards about what is working well and what is not. The NZASB also wants to know if the application guidance helps you comply with the standards, and if the optional Tier 3 and 4 performance report templates are easy to use and fit for purpose.

The NZASB needs to collect as much feedback as possible from a wide range of entities across the not-for-profit and public sectors.

Your feedback will help the NZASB determine whether changes to the standards, guidance and templates are needed.

We have three ways that you can give us your feedback.

You can either:

• send us written feedback, either as a formal submission letter or informally by email;
• complete the online submission form available on the XRB website; or
• complete our simple online survey.

Send us your feedback at any time, but we need to hear from you by 31 March 2021.

The NZASB will consider all feedback received by this date.

You can find more information on the review, including links to the full request for information, standards, guidance, templates, and how to make a submission on the XRB website.

Have a look

Upcoming NZASB Meeting

15 October 2020

The NZASB will meet for a short virtual meeting from 10:00AM to 11:30AM to discuss and approve its comment letter on the three IPSASB Exposure Drafts on Revenue and Transfer Expenses.

You can access the public agenda, public meeting papers and register to attend as an observer at this meeting on our website.

Have a look

The next full day NZASB meeting will be held in-person in Auckland on 4 November 2020.

XRB/IASB Outreach Event on Goodwill and Impairment

There is still time to register for our virtual Goodwill and Impairment Outreach Event, which will run on Tuesday 13 October from 9:00AM–10:30AM.  

Register here

Have your say…

Before issuing a finalised accounting standard the NZASB and the international standard-setting boards, the IASB and the IPSASB, issue consultation documents. These documents seek your feedback on proposals that could potentially affect you.

We are currently consulting on the matters set out in the table below. 

Tell us how these changes could affect your entity or the entities you work with.

We welcome your comments and feedback, either formal or informal, by the due dates below.

NZASB Consultation Documents

* Request for Information

IASB Consultation Document

IPSASB Consultation Documents