PBE Accounting Standards based on IASB pronouncements
When the IASB issues a standard (or other pronouncement) that is adopted, or is expected to be adopted, as a For-profit Accounting Standard, the NZASB applies the development principle in the PBE Policy Approach to consider whether the standard (or other pronouncement) should also be included in New Zealand PBE Standards for Tier 1 PBEs.
The process the NZASB follows here is set out below.
You can read this in conjunction with the commentary on Process 3 in the following document:
The steps in the diagram below refer to the steps in the commentary in EG A2.