New Zealand Equivalents to International Financial Reporting Standards

 

Certain small entities are permitted to continue applying New Zealand FRSs and SSAPs, and are not required to adopt New Zealand equivalents to International Financial Reporting Standards (NZ IFRSs), for annual accounting periods commencing on or after 1 January 2007.  The criteria which these entities are required to meet are detailed in ASRB Release 9 Delay of the Mandatory Adoption of New Zealand Equivalents to International Financial Reporting Standards for Certain Small Entities. Also see the Amendments to the New Zealand Preface.

 

On the 24 November 2004 the Accounting Standards Review Board approved the stable platform of New Zealand equivalents to International Financial Reporting Standards (NZ IFRSs).

 

Copies of the standards can be viewed below. Copies are also available for inspection free of charge at the offices of the New Zealand Institute of Chartered Accountants, Level 7, Tower Building, 50 Customhouse Quay,Wellington and at Auckland Branch, 27-33 Ohinerau Street, Remuera, Auckland.

 

View the New Zealand Equivalents to International Financial Reporting Standards - 2010 Volume

View the New Zealand Equivalents to International Financial Reporting Standards - 2009 Volume

View the New Zealand Equivalents to International Financial Reporting Standards - 2008 Volume

View the New Zealand Equivalents to International Financial Reporting Standards - 2007 Volume 

View the New Zealand Equivalents to International Financial Reporting Standards - 2006 Volume 

 

ASRB Recent Approvals

The following pronouncements have recently been approved by the ASRB and are therefore not included in the 2010 volume.  They are currently going through the final publication process and as such these pronouncements are subject to final editorial and formatting changes.

 

• NZ IFRIC 19 Extinguishing Financial Liabilities with Equity Instruments (40KB)

• Amendments to NZ IFRIC 14 Prepayments of a Minimum Funding Requirement (22KB)

 

ASRB Releases

• Release 7: Accounting Policies that have Authoritative Support within the Accounting Profession in New Zealand (21KB)
• Release 8: The Role of the Accounting Standards Review Board and the Nature of Approved Financial Reporting Standards (52KB)
• Release 9: Delay of the Mandatory Adoption of New Zealand Equivalents to International Financial Reporting Standards for Certain Small Entities (23KB)