NZASB Board
Role and Responsibilities
The New Zealand Accounting Standards Board (NZASB) is a Committee of the XRB Board established under schedule 5 of the Crown Entities Act.
The NZASB has delegated authority from the XRB Board to develop or adopt and issue accounting standards for general purpose financial reporting in New Zealand. In doing so the NZASB must operate with the financial reporting strategy established by the XRB Board.
For more information about the role and responsibilities of the NZASB please go to the Operating Parameters page.
NZASB Outcome Goal
The NZASB’s strategic objective is:
To establish accounting standards for general purpose financial reporting which will encourage the preparation of financial reports that engenders confidence in New Zealand financial reporting, assists entities to compete internationally, and enhances entities’ accountability to stakeholders.
The existence of accounting standards that encourage high quality financial reports that are meaningful and accepted by users, and recognised internationally, is crucial to the achievement of the XRB’s outcome goal. The NZASB considers the suite of accounting standards, and how they are being applied, with this objective in mind. It issues such standards or guidance as it considers necessary from time to time to achieve its strategic objective.
Members of the NZASB
The NZASB comprises up to ten suitably qualified and experienced persons with a diversity of perspective. The members of the NZASB are appointed by the XRB and are all part-time. They are remunerated in accordance with rates determined by the Remuneration Authority.
The NZASB is chaired by Michele Embling, a partner with PWC in Auckland. Michele is also a member of the XRB Board.
For more information about the members of the NZASB please go to the NZASB Board Members page.