Standards

Accounting and Audit & Assurance standards ensure transparent and consistent external financial reporting.  Reporting helps build greater trust and confidence with stakeholders such as shareholders, investors, donors, funders, and customers.

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Many New Zealand organisations such as businesses, not-for-profit organisations and Government, have a legal obligation to prepare and publish financial reports which apply XRB standards.  These organisations are also required equired to have an independent audit or review of its financial results.

The XRB standards state what and how entities must report. These requirements are incorporated into the XRB's financial reporting strategy 

The following Acts set out which types of organisations must produce, obtain assurance, and publish financial statements.  

  • Charities Act 2005
  • Companies Act 1993
  • Financial Markets Conduct Act 2013
  • Public Finance Act 1989
  • Crown Entities Act 2004 
  • Local Government Act 2002.