Recent Approvals

For-profit Not-for-profit Public Sector

Recent and amending standards issued by the NZASB.

 2017         2016

2018

For-profit

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IssuedStandard/Amending standardEffective date1Access the document
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

 1.  Effective date paragraphs are set out in the relevant standard or amending standard.


2017 

For-profit

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Dec 2017 Long-term Interests in Associates and Joint Ventures (Amendments to NZ IAS 28) 

Jan 2018
Jan 2019

NZ IAS 28

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 2021  2017 Omnibus Amendments
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

 1.  Effective date paragraphs are set out in the relevant standard or amending standard.


 

Public Benefit Entities

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IssuedStandard/Amending standardEffective date1Access 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 2019  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

1.  Effective date paragraphs are set out in the relevant standard or amending standard.


2016

For-profit

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Nov 2016 RDR Expected Credit Losses  (Amendments to NZ IFRS 7)

Jan 2018  

NZ IFRS 7

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

1.  Effective date paragraphs are set out in the relevant standard or amending standard.


2016

Public Benefit Entities

NFP icon Public Sector icon

IssuedStandard/Amending standardEffective date1Access 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

1.  Effective date paragraphs are set out in the relevant standard or amending standard.