Recent Approvals
Recent and amending standards issued by the NZASB.
Effective dates fully set out in the relevant standard or amending standard.
2020
For-profit
| Issued | Standard/Amending standard | Effective date1 | Access the document |
|---|---|---|---|
| Sep 2020 | Interest Rate Benchmark Reform—Phase 2 | 1 Jan 2021 | |
| Aug 2020 | Amendments to NZ IFRS 17 | 1 Jan 2023 | |
| Aug 2020 |
Extension of the Temporary Exemption from Applying NZ IFRS 9 |
1 Jan 2021 | |
| Aug 2020 | Classification of Liabilities as Current or Non‑current—Deferral of Effective Date (to 1 January 2023) |
1 Jan 2022 | |
| Aug 2020 |
Going Concern Disclosures (Amendments to FRS-44) |
Annual periods ending on or after 30 September 2020 | |
| Jun 2020 | Reference to the Conceptual Framework | Jan 2022 | |
| Jun 2020 | Annual Improvements to NZ IFRS 2018–2020 | Jan 2022 | |
| Jun 2020 | Onerous Contracts—Cost of Fulfilling a Contract | Jan 2022 | |
| Jun 2020 | Property, Plant and Equipment Proceeds before Intended Use | Jan 2022 | |
| Jun 2020 | Covid-19-Related Rent Concessions | Jun 2020 | |
| Apr 2020 | Classification of Liabilities as Current or Non-current | Jan 2022 |
Not-for-profitPublic Sector
Not-for-profitPublic Sector
| Issued | Standard/Amending standard | Effective date1 | Access the document |
|---|---|---|---|
| Aug 2020 | Amendments to PBE IFRS 17 | 1 Jan 2023 | |
| Aug 2020 |
2020 Amendments to PBE FRS 48 - Deferral of effective date to 1 January 2022 |
1 Jan 2021 | Amending standard |
| Aug 2020 |
Going Concern Disclosures (Amendments to PBE IPSAS 1) |
Annual periods ending on or after 30 September 2020 | Amending standard |
| Feb 2020 | PBE Interest Rate Benchmark Reform | Jan 2020 | |
| Feb 2020 | Withdrawal of PBE FRS 46 (Amendments to PBE FRS 47) |
Jan 2021 |
|
| Feb 2020 | Revocation of PBE FRS 46 |
Jan 2021 |
2019
For-profit
| Issued | Standard/Amending standard | Effective date1 | Access the document |
|---|---|---|---|
| Nov 2019 | Interest Rate Benchmark Reform | Jan 2020 | |
| Sep 2019 | 2019 Omnibus Amendments to NZ IFRS |
Jan 2020 |
|
| May 2019 | 2019 Amendments to XRB A1 Appendix A – When is an Entity a Public Benefit Entity? |
Jan 2020 |
Not-for-profitPublic Sector
| Issued | Standard/Amending standard | Effective date1 | Access the document |
|---|---|---|---|
| Oct 2019 | PBE Standards Editorial Corrections (Oct 2019) | ||
| Aug 2019 | Uncertainty over Income Tax Treatments (Amendments to PBE IAS 12) |
Jan 2020 |
|
| Jul 2019 | PBE IFRS 17 Insurance Contracts |
Jan 2022 |
|
| Jul 2019 | PBE IPSAS 40 PBE Combinations |
Jan 2021 |
|
| May 2019 | 2019 Amendments to XRB A1 Appendix A – When is an Entity a Public Benefit Entity? |
Jan 2020 |
|
| Mar 2019 | PBE IPSAS 41 Financial Instruments |
Jan 2022 |
|
| Mar 2019 | Effective Date of PBE IFRS 9 |
Jan 2020 |
2018
For-profit
| Issued | Standard/Amending standard | Effective date1 | Access the document |
|---|---|---|---|
| Dec 2018 | Definition of Material (Amendments to Conceptual Frameworks) | Jan 2020 | Conceptual Framework |
| Dec 2018 | Definition of Material (Amendments to NZ IAS 1 and NZ IAS 8) | Jan 2020 | |
| Dec 2018 | Definition of a Business (Amendments to NZ IFRS 3) | Jan 2020 | NZ IFRS 3 |
| Jul 2018 | RDR NZ IFRS 16 and NZ IAS 7 | Jan 2019 | |
| May 2018 | Amendments to the Scope of FRS-42 |
Jan 2019 | FRS-42 |
| May 2018 | New Zealand Equivalent to the IASB Conceptual Framework for Financial Reporting (2018 NZ Conceptual Framework) | Jan 2020 | Conceptual Framework |
| May 2018 | Updating References to the Conceptual Framework in NZ IFRS | Jan 2020 | Updating references to the Conceptual Framework |
| Mar 2018 | Plan Amendment, Curtailment or Settlement (Amendment to NZ IAS 19) | Jan 2019 | NZ IAS 19 |
| Feb 2018 | Annual Improvements to NZ IFRSs 2015–2017 Cycle | Jan 2019 | Annual Improvements |
2018
Not-for-profitPublic Sector
| Issued | Standard/Amending standard | Effective date1 | Access the document |
|---|---|---|---|
| Nov 2018 | 2018 Omnibus Amendments to PBE Standards |
Jan 2019 Jan 2021 |
|
| Jul 2018 | 2018 Omnibus Amendments to Tier 3 and Tier 4 PBE Accounting Requirement | Jan 2019 |
2017
For-profit
| Issued | Standard/Amending standard | Effective date1 | Access the document |
|---|---|---|---|
| Dec 2017 | Long-term Interests in Associates and Joint Ventures (Amendments to NZ IAS 28) |
Jan 2019 |
|
| Nov 2017 | Prepayment Features with Negative Compensation (Amendments to NZ IFRS 9) | Jan 2019 | NZ IFRS 9 |
| Nov 2017 | 2017 Omnibus Amendments to NZ IFRS |
Jan 2018 Jan 2019 |
|
| Aug 2017 | NZ IFRS 17 Insurance Contracts | Jan 2021 | NZ IFRS 17 |
| Aug 2017 | NZ IFRIC 23 Uncertainty over Income Tax Treatments | Jan 2019 | NZ IFRIC 23 |
| Feb 2017 | Annual Improvements to NZ IFRSs 2014–2016 Cycle | Jan 2017 Jan 2018 |
Annual Improvements |
| Feb 2017 | NZ IFRIC 22 Foreign Currency Transactions and Advance Consideration | Jan 2018 | NZ IFRIC 22 |
| Feb 2017 | Transfers of Investment Property (Amendments to NZ IAS 40) | Jan 2018 | NZ IAS 40 |
Not-for-profitPublic Sector
| Issued | Standard/Amending standard | Effective date1 | Access the document |
|---|---|---|---|
| Nov 2017 | PBE FRS 48 Service Performance Reporting | Jan 2021 | PBE FRS 48 |
| May 2017 | PBE IPSAS 39 Employee Benefits | Jan 2019 | PBE IPSAS 39 |
| May 2017 | Approved Budget (Amendments to PBE IPSAS 1) | Jan 2018 | PBE IPSAS 1 |
| Apr 2017 | Impairment of Revalued Assets (Amendments to PBE IPSASs 21 and 26) | Jan 2019 | PBE IPSAS 21 PBE IPSAS 26 |
| Jan 2017 | PBE IFRS 9 Financial Instruments | Jan 2021 | PBE IFRS 9 |
| Jan 2017 | PBE IPSAS 38 Disclosure of Interests in Other Entities | Jan 2019 | PBE IPSAS 38 |
| Jan 2017 | PBE IPSAS 37 Joint Arrangements | Jan 2019 | PBE IPSAS 37 |
| Jan 2017 | PBE IPSAS 36 Investments in Associates and Joint Ventures | Jan 2019 | PBE IPSAS 36 |
| Jan 2017 | PBE IPSAS 35 Consolidated Financial Statements | Jan 2019 | PBE IPSAS 35 |
| Jan 2017 | PBE IPSAS 34 Separate Financial Statements | Jan 2019 | PBE IPSAS 34 |
| Jan 2017 | 2016 Omnibus Amendments to PBE Standards | Jan 2017 Jan 2018 |
2016 Omnibus Amendments |
2016
For-profit
| Issued | Standard/Amending standard | Effective date1 | Access document |
|---|---|---|---|
| Nov 2016 | RDR Expected Credit Losses (Amendments to NZ IFRS 7) |
Jan 2018 |
|
| Nov 2016 | Applying NZ IFRS 9 Financial Instruments with NZ IFRS 4 Insurance Contracts (Amendments to NZ IFRS 4) | Jan 2018 | NZ IFRS 4 |
| Aug 2016 | Classification and Measurement of Share-based Payment Transactions (Amendments to NZ IFRS 2) | Jan 2018 | NZ IFRS 2 |
| May 2016 | Clarifications to NZ IFRS 15 Revenue from Contracts with Customers | Jan 2018 | NZ IFRS 15 |
| May 2016 | Disclosure Initiative (Amendments to NZ IAS 7) | Jan 2017 | NZ IAS 7 |
| Mar 2016 | Recognition of Deferred Tax Assets for Unrealised Losses (Amendments to NZ IAS 12) | Jan 2017 | NZ IAS 12 |
| Feb 2016 | NZ IFRS 16 Leases | Jan 2019 | NZ IFRS 16 |
| Feb 2016 | Effective Date of Amendments to NZ IFRS 10 and NZ IAS 28 | Jan 2020 | NZ IFRS 10 NZ IAS 28 |
Not-for-profitPublic Sector
| Issued | Standard/Amending standard | Effective date1 | Access document |
|---|---|---|---|
| May 2016 | Public Benefit Entities’ Conceptual Framework | Jan 2017 | PBE Conceptual Framework |
| Jan 2016 | Donated Goods (Amendments to PBE IPSAS 23) | Jan 2016 | PBE IPSAS 23 |
