PBE Financial Instruments

  • Not-for-profit
  • Public Sector

NZASB ED 2018-5

NZASB ED 2018-6

Tier 1 and Tier 2

The New Zealand Accounting Standards Board (NZASB) is seeking comments on two exposure drafts.

These proposals are relevant for Tier 1 and Tier 2 public benefit entities (PBEs).

  • NZASB ED 2018-5 PBE IPSAS 41 Financial Instruments contains proposals to update the requirements for the recognition and measurement of financial instruments for Tier 1 and 2 PBEs.

These proposals will align the requirements in PBE Standards with the recently issued IPSAS 41 Financial Instruments (and NZ IFRS 9 Financial Instruments).

When finalised, PBE IPSAS 41 will supersede most of PBE IPSAS 29 Financial Instruments: Recognition and Measurement. It will also supersede PBE IFRS 9 Financial Instruments which was issued as an interim measure pending the development of PBE IPSAS 41.

  • NZASB ED 2018-6 Effective Date of PBE IFRS 9 which proposes to defer the effective date of PBE IFRS 9 by a year to 1 January 2022 (to prevent it becoming mandatorily effective before the effective date of PBE IPSAS 41).

The invitation to comment (ITC) explains the differences between the proposals in the ED of PBE IPSAS 41 and the requirements in PBE IPSAS 29 and PBE IFRS 9.

We will record a webinar to discuss these exposure drafts and will then make a recording available on Tuesday 18 December.


Commenting on the proposal

Send your comments—both formal and informal—by 28 February 2019 to the NZASB as follows:

Either by post to the:

Chief Executive
External Reporting Board
PO Box 11250
Manners Street Central
WELLINGTON 6142

OR by email to submissions@xrb.govt.nz.


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).