Annual Improvements to NZ IFRS 2024
(Amends NZ IFRS 1, NZ IFRS 7, NZ IFRS 9, NZ IFRS 10 and NZ IAS 7)
Annual Improvements to NZ IFRS 2024 is an amending Standard that updates NZ IFRS 1, NZ IFRS 7, NZ IFRS 9, NZ IFRS 10 and NZ IAS 7.
Annual improvements are limited to changes that clarify the wording in an Accounting Standard and correct relatively minor unintended consequences, oversights or conflicts between the requirements of the Accounting Standards.
Commencement and Application
Application of the amendments is required for accounting periods which begin on or after 1 January 2026.
Application is permitted for accounting periods that begin before 1 January 2026 but have not ended or do not end before 19 September 2024.