NZASB ED 2019-2

  • For-profit

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:

  1. 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.
  2. Amendments to FRS-44 New Zealand Additional Disclosures to:
    1. 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
    2. delete the paragraphs dealing with elements in the statement of service performance.

Editorial corrections to various NZ IFRSs.


Accessing the consultation documents


Commenting on the Proposal

Send your comments—both formal and informal—by 16 August 2019 to the NZASB using the secure upload form below.


Upload your submission here

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  • Upload an MS Word document (and a PDF file, if you wish); or
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Please note:

  • We would appreciate receiving a copy of your comments in electronic form (preferably Microsoft Word format).  This helps us to more efficiently collate and analyse comments. Please also specify the exposure draft number and title in your electronic file. 

  • Tell us on whose behalf you are making the comments (for example on behalf of a group or an entity).

  • We intend publishing all comments on the XRB website, unless they may be defamatory. If you have any objection to this, we will not publish them. However, they will remain subject to the Official Information Act 1982 and, therefore, may be released in part or in full. The Privacy Act 1993 also applies.

  • If you have an objection to the release of any information contained in your comments, we would appreciate you identifying the parts of your comments to be withheld, and the grounds under the Official Information Act 1982 for doing so (for example, that it would be likely to unfairly prejudice the commercial position of the person providing the information).