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Recent Approvals

Recent and amending standards issued by the NZASB.

Effective dates fully set out in the relevant standard or amending standard. 

 2018         2017         2016

2020

For-profit

IssuedStandard/Amending standardEffective date1Access the document
Apr 2020 Classification of Liabilities as Current or Non-current Jan 2022

Amending standard
 

Not-for-profitPublic Sector

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Feb 2020 PBE Interest Rate Benchmark Reform Jan 2020

Amending standard
Feb 2020 Withdrawal of PBE FRS 46
(Amendments to PBE FRS 47)

Jan 2021

PBE FRS 47
Feb 2020 Revocation of PBE FRS 46

Jan 2021

PBE FRS 46
 

2019

For-profit

IssuedStandard/Amending standardEffective date1Access the document
Nov 2019 Interest Rate Benchmark Reform Jan 2020

Amending standard
Sep 2019 2019 Omnibus Amendments to NZ IFRS

Jan 2020

2019 Omnibus Amendments
May 2019 2019 Amendments to XRB A1 Appendix A – When is an Entity a Public Benefit Entity?

Jan 2020

XRB A1

Not-for-profitPublic Sector

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Oct 2019 PBE Standards Editorial Corrections (Oct 2019)  

Corrections
Aug 2019 Uncertainty over Income Tax Treatments (Amendments to PBE IAS 12)

Jan 2020

PBE IAS 12
Jul 2019 PBE IFRS 17 Insurance Contracts

Jan 2022

PBE IFRS 17
Jul 2019 PBE IPSAS 40 PBE Combinations

Jan 2021

PBE IPSAS 40
May 2019 2019 Amendments to XRB A1 Appendix A – When is an Entity a Public Benefit Entity?

Jan 2020

XRB A1
Mar 2019 PBE IPSAS 41 Financial Instruments 

Jan 2022

PBE IPSAS 41
Mar 2019 Effective Date of PBE IFRS 9 

Jan 2020

PBE IFRS 9

 

2018

For-profit

IssuedStandard/Amending standardEffective date1Access 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

NZ IAS 1

NZ IAS 8
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

NZ IFRS 16

NZ IAS 7
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

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Nov 2018 2018 Omnibus Amendments to PBE Standards

Jan 2019

Jan 2021

2018 Omnibus Amendments
 Jul 2018 2018 Omnibus Amendments to Tier 3 and Tier 4 PBE Accounting Requirement Jan 2019

PBE SFR-A (NFP)

PBE SFR-C (NFP)

PBE SFR-A (PS)

PBE SFR_C (PS)

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2017 

For-profit

IssuedStandard/Amending standardEffective date1Access the document
Dec 2017 Long-term Interests in Associates and Joint Ventures (Amendments to NZ IAS 28) 

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 2018

Jan 2019 

 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

Not-for-profitPublic Sector

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 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

 

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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

Not-for-profitPublic Sector

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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

 

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