Recent Approvals

Recent and amending standards issued by the NZASB.

2018

For-profit

Issued	Standard/Amending standard	Effective date¹	Access 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

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 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

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 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

Issued	Standard/Amending standard	Effective date¹	Access document
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

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

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

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