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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Consultation closed on Friday 29 August 2025.
Submissions Received