PBE Financial Instruments
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 have recorded a webinar to discuss these exposure drafts.
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