Exposure Draft ED NZASB 2014-1 Proposed Disclosure Concessions for Tier 2 For-profit Entities: Hedge Accounting

The NZASB has issued Exposure Draft NZASB 2014-1 Proposed Disclosure Concessions for Tier 2 For-profit Entities: Hedge Accounting.

ED NZASB 2014-1 proposes disclosure concessions for Tier 2 for-profit entities in respect of NZ IFRS 9 (2013) Financial Instruments (Hedge Accounting and amendments to NZ IFRS 9, NZ IFRS 7 and NZ IAS 39).

The proposed disclosure concessions are identical to those approved by the Australian Accounting Standards Board in December 2013 for Tier 2 entities reporting in Australia.

ED NZASB 2013-6 does not propose any amendments to the standards for public benefit entities or Tier 3 for-profit entities.

Comments on the proposals are due to the NZASB by 2 May 2014

Comments, both formal and informal, can be made to the New Zealand Accounting Standards Board (NZASB) addressed to the Chief Executive, External Reporting Board, PO Box 11250, Manners Street Central, Wellington 6142, or by email to submissions@xrb.govt.nz.

It would be appreciated if respondents send their comments in electronic form (PDF and Microsoft Word formats) as it allows for efficient collation and analysis of comments. All comments will ultimately be posted on the XRB website unless respondents indicate that they wish their comments to remain confidential.


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