2025 Amendments to XRB A1 Application of the Accounting Standards Framework
Proposed amendments to XRB A1
XRB A1 establishes the Accounting Standards Framework in New Zealand and outlines the criteria for the application of different financial reporting tiers, classifying entities based on their size, nature and public accountability. It also specifies the accounting standards applicable to each reporting tier across the for-profit, the public sector and not-for-profit sectors.
The proposed amendments include:
- Clarifying the definition of public accountability to make application more straightforward.
- Increasing the Tier 1 size threshold for for-profit public-sector entities to $33 million of total expenses to align with the Tier 1 size threshold for Public Benefit Entities (PBEs).
- Revising terminology in the PBE Tier 4 criteria and ‘moving between tiers’ provisions to provide clearer guidance on when the Tier 4 criteria are met.
Our Consultation Document and accompanying Exposure Draft outline these proposals.
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How to provide feedback
We encourage you to read the Exposure Draft and to share your comments with us. It is important that we get your feedback to ensure XRB A1, and the accounting standards framework remains appropriate and easy to apply by reporting entities in Aotearoa New Zealand.
You can send your comments directly to the XRB via accounting@xrb.govt.nz or complete the form below.
The consultation closes on Friday 29 August 2025.
All submissions will be published on the XRB website unless confidentiality is requested. If you object to the release of any information in your submission, please identify the specific parts and the reasons under the Official Information Act 1982. We reserve the right not to publish defamatory submissions. Submissions are subject to the Official Information Act 1982 and the Privacy Act 2020. The XRB will handle personal information in accordance with these Acts.