Acronyms

Last updated 6 November 2015

The following acronyms are used throughout this site:

AASB Australian Accounting Standards Board (NZASB Counterpart)
ACCA  Association of Chartered Certified Accountants
ACE Autonomous Crown Entity
ACNC Australian Charities and Not-for-profits Commission 
AcSB Canadian Accounting Standards Board
AFAANZ Accounting and Finance Association of Australia and New Zealand
AICPA  American Institute of Certified Public Accountants
AOSSG Asian-Oceanian Standard-Setters’ Group
APESB Accounting Professional & Ethical Standards Board (Australia) 
ASAF Accounting Standards Advisory Forum  
ASB  Accounting Standards Board (South Africa)
ASBJ  Accounting Standards Board of Japan
ASF Accounting Standards Framework
ASIC Australian Securities and Investments Commission 
ASRB  Accounting Standards Review Board (replaced by XRB) 
AUASB Auditing and Assurance Standards Board (Australia) (NZAuASB Counterpart) 
CAANZ Chartered Accountants Australia New Zealand 
CAG Consultant Advisory Group (IPSASB)
CF Conceptual Framework
CIPFA Chartered Institute of Public Finance and Accountancy (UK) 
CMAC Capital Markets Advisory Committee 
CNCOP Public Sector Standards Council (France) 
CP Consultation Paper (IPSASB) 
CRUF Corporate Reporting Users Forum (Professional Investors and Analysts) 
CSR Corporate Social Responsibility 
DI  Draft IFRIC Interpretation 
DIA Department of Internal Affairs (includes Charities Services) 
DP
Discussion Paper (IASB) 
DPOC Due Process Oversight Committee (IASB) 
EC European Commission 
ED Exposure Draft 
EFRAG 
European Financial Reporting Advisory Group 
EG  Explanatory Guide 
eIFRS  Online edition of IFRS, including IAS, IFRICs and SICs 
EQC  Earthquake Commission 
ESMA  European Securities and Markets Authority 
ETS  Emissions Trading Scheme (now also Pollutant Pricing Mechanisms) 
EU  European Union 
FAF  Financial Accounting Foundation (US – oversight board for FASB and GASB) 
FASB  Financial Accounting Standards Board (US) 
FMA  Financial Markets Authority 
FMCA  Financial Markets Conduct Act 2013 
FMC Reporting Entity  A term defined in section 451 of the Financial Markets Conduct Act 2013 which includes a range of financial market participants, and includes most issuers as defined under the Financial Reporting Act 1993. 
FRA  Financial Reporting Act 2013 
FRC  Financial Reporting Council (Australia - XRB Board Counterpart) 
FRC  Financial Reporting Council (UK) 
FReM  Financial Reporting Manual (UK Central Government) 
FRO  Financial Reporting Order 
FRS  Financial Reporting Standards – domestic NZ standards 
FRSB  Financial Reporting Standards Board of the New Zealand Institute of Chartered Accountants (replaced by NZASB) 
GAAP  Generally Accepted Accounting Practice 
GASB  Governmental Accounting Standards Board (US) 
GBE  Government Business Enterprise 
GFS  Government Finance Statistics 
GLASS  Group of Latin American Standard Setters 
GPF  Global Preparers Forum (IASB advisory body) 
GPFR  General Purpose Financial Report 
GRAP  Standard of Generally Recognised Accounting Practice (ASB-South Africa) 
GRI  Global Reporting Initiative (sustainability reporting standards) 
IAASB  International Auditing and Assurance Standards Board 
IAESB  International Accounting Education Standards Board 
IAS  International Accounting Standard (issued by the IASC) 
IASB 
International Accounting Standards Board 
IASC  International Accounting Standards Committee (replaced by the IASB) 
ICAEW  Institute of Chartered Accountants of England and Wales 
ICAS  Institute of Chartered Accountants of Scotland 
IFAC  International Federation of Accountants 
IFASS  International Forum of Accounting Standard Setters (formerly known as National Standard-Setters, NSS) 
IFRIC 
  1. International Financial Reporting Interpretations Committee (former name of the IFRS Interpretations Committee)
  2. Interpretations issued by the IFRS Interpretations Committee  
IFRS 
  1. The full suite of International Financial Reporting Standards, comprising IFRS standards, IAS standards, IFRIC Interpretations and SIC Interpretations
  2. Specific IFRS standards 
IFRS for SMEs  International Financial Reporting Standard for Small and Medium-sized Entities 
IIRC  International Integrated Reporting Committee 
IMF  International Monetary Fund 
INFINZ  Institute of Finance Professionals New Zealand Inc. 
IoD  Institute of Directors 
IOSCO  International Organisation of Securities Commissions 
IPSAS  International Public Sector Accounting Standard 
IPSASB  International Public Sector Accounting Standards Board 
IR  Integrated Reporting (often written as <IR>) 
ISA  International Standards on Auditing 
ISRE  International Standards on Review Engagements 
ITC  Invitation to Comment 
IVS  International Valuation Standards 
IVSC  International Valuation Standards Council 
KASB  Korea Accounting Standards Board 
LTCCP  Long-Term-Council-Community-Plan (prepared by local government) 
MBIE  Ministry of Business, Innovation and Employment 
MOE  Ministry of Education 
MOU  Memorandum of Understanding 
NFP  Not-for-profit 
NZASB  New Zealand Accounting Standards Board 
NZAuASB  New Zealand Auditing and Assurance Standards Board 
NZ IAS 
New Zealand equivalent to an International Accounting Standard 
NZICA  New Zealand Institute of Chartered Accountants (now CAANZ) 
NZ IFRIC  New Zealand equivalent to an IFRS Interpretations Committee Interpretation 
NZ IFRS 
  1. The full suite of New Zealand equivalents to International Financial Reporting Standards, comprising IFRS standards, IAS standards, IFRIC interpretations, SIC Interpretations and domestic Financial Reporting Standards (FRS)
  2. New Zealand equivalent to a specific IFRS
NZSA  New Zealand Shareholders’ Association 
NZ SIC  New Zealand equivalent to a Standards Interpretation Committee Interpretation 
NZX  New Zealand Stock Exchange 
OAG  Office of the Auditor-General 
OECD  Organisation for Economic Co-operation and Development 
OIC  Organismo Italiano di Contabilita (Italian Standard Setter) 
PAFA  Pan African Federation of Accountants 
PBE  Public Benefit Entity 
PBE FRS  Public Benefit Entity Standard based on a Financial Reporting Standard 
PBE IAS  Public Benefit Entity Standard based on an International Accounting Standard 
PBE IFRS  Public Benefit Entity Standard based on an International Financial Reporting Standard 
PBE IPSAS  Public Benefit Entity Standard based on an International Public Sector Accounting Standard 
PBE SFR-A (NFP)  Public Benefit Entity Simple Format Reporting - Accrual (Standard for Not-for profit) 
PBE SFR-A (PS)  Public Benefit Entity Simple Format Reporting - Accrual (Standard for Public Sector) 
PBE SFR-C (NFP)  Public Benefit Entity Simple Format Reporting - Cash (Standard for Not-for profit) 
PBE SFR-C (PS)  Public Benefit Entity Simple Format Reporting - Cash (Standard for Public Sector) 
PBE Standards  Public Benefit Entity Standards 
PCAOB  Public Company Accounting Oversight Board (US) 
PIC  Public Interest Committee (IPSASB oversight body) 
PIOB  Public Interest Oversight Board (US) 
PIR  Post Implementation Review 
PPM 
Pollutant Pricing Mechanisms (term replaces ETS - Emissions Trading Schemes) 
PSAB  Canadian Public Sector Accounting Board 
PSB  Professional Standards Board of the New Zealand Institute of Chartered Accountants (partly replaced by NZAuASB) 
RBNZ  Reserve Bank of New Zealand 
RDR  Reduced Disclosure Regime 
REAP  Rural Education Activity Programme 
RFP  Request for Proposal 
RFV  Request for Views 
SEC  Securities and Exchange Commission (US) 
SEM  Single Economic Market 
SFO  Serious Fraud Office 
SFR  Simple Format Reporting 
SIC  Standards Interpretation Committee (precursor to the IFRS Interpretations Committee) 
SME(s)  Small and medium sized entity(ies) 
SOE  State Owned Enterprise 
SOLGM  NZ Society of Local Government Managers 
SORP  UK Statement of Recommended Practice. The most common one is the Accounting and Reporting by Charities SORP issued by the UK Charities Commission. 
SPFR  Special Purpose Financial Report 
SPR  Service Performance Reporting 
SSAP  Statements of Standard Accounting Practice (issued under old NZ GAAP) 
SSP  Statement of Service Performance 
TBG  Task-Based Group (IPSASB) 
TRG  Technical Reference Group (NZASB) 
WSS  World Standard Setters (IASB annual conference) 
XBRL  Extensive Business Reporting Language 
XRAP  External Reporting Advisory Panel 
XRB  External Reporting Board