NZASB ED 2019-2
2019 Omnibus Amendments to NZ IFRS
The New Zealand Accounting Standards Board (NZASB) is seeking comments on ED 2019 Omnibus Amendments to NZ IFRS.
The ED proposes the following:
- Amendments to NZ IFRS 10 Consolidated Financial Statements and NZ IAS 28 Investments in Associates and Joint Ventures to defer the effective date of Sale or Contribution of Assets between an Investor and its Associate or Joint Venture (Amendments to NZ IFRS 10 and NZ IAS 28) from annual periods beginning on or after 1 January 2020 to annual periods beginning on or after 1 January 2025.
- Amendments to FRS-44 New Zealand Additional Disclosures to:
- require that, if an IFRS has been issued by the International Accounting Standards Board but the equivalent NZ IFRS has not yet been issued by the XRB, an entity must disclose the information specified in paragraphs 30 and 31 of NZ IAS 8 Accounting Policies, Changes in Accounting Estimates and Errors in relation to that IFRS; and
- delete the paragraphs dealing with elements in the statement of service performance.
Editorial corrections to various NZ IFRSs.
Commenting on the Proposal
Send your comments—both formal and informal—by 16 August 2019 to the NZASB using the secure upload form below.
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