NZASB Update 17/2020

Upcoming NZASB Meeting

 This NZASB Update provides you with an overview of the New Zealand Accounting Standards Board’s recent activities, any new standards or interpretations, as well as other matters of interest.

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Upcoming NZASB Meeting

10 September 2020

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Applies to:

For-profitNot-for-profitPublic Sector

 The NZASB meeting will be a full day virtual meeting.

The Board will consider and discuss the following for-profit items:

  • its draft comment letter on Primary Financial Statements 1; and
  • approval of the Interest Rate Benchmark Reform— Phase 2 standard.

The Board will consider and discuss the following public benefit entity (PBE) items:

  • its draft comment letter on the three IPSASB Exposure Drafts (EDs) on Revenue and Transfer Expenses;
  • approval of the Request for Information for the Tier 3 and 4 Post-implementation Review; and
  • approval of the Invitation to Comment and ED for PBE Interest Rate Benchmark Reform— Phase 2.

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

Have a look

1. IASB ED/2019/7 General Presentation and Disclosures.

Have your say... 

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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.

IASB Consultation Documents

For-profit

* Note: the due date for comments to the NZASB has been extended to
2 November 2020.

IPSASB Consultation Documents

Not-for-profitPublic Sector

 There are no current domestic consultations at this time.

This NZASB Update is intended to provide subscribers with a summary of the recent activities of the New Zealand Accounting Standards Board (NZASB). Links to websites are correct at the time of publication. Subscribers should not rely on this newsletter as a definitive publication of updates. The External Reporting Board and its sub-Board the NZASB do not guarantee, and accept no legal liability whatsoever arising from or connected to, the accuracy, reliability, currency, timeliness or completeness of this newsletter. The information contained in this newsletter does not constitute advice and should not be relied upon as such.

This NZASB Update refers to the work of the International Accounting Standards Board (IASB) and the International Public Sector Accounting Standards Board (IPSASB) and uses registered trademarks of the IFRS Foundation (for example, IFRS® Standards, IFRIC® Interpretations and IASB® papers).
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