NZASB Meeting 12 February 2019

Event Date 12 February

Date And Time

Location:
Level 7
50 Manners Street
Wellington

This event has already taken place.

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Here is a summary of the main matters considered at the public session.

Engagement with IPSASB Chair

Ian Carruthers, Chair of the International Public Sector Accounting Standards Board (IPSASB), attended the first half of the meeting. Ian provided an update on IPSASB projects and recent developments including the issue of IPSAS 42 Social Benefits, Exposure Draft 67 Collective and Individual Services and Emergency Relief (Amendments to IPSAS 19) and the pending issue of the Strategy and Work Plan 2019–2023.

IPSASB Non-Exchange Expenses

The Board received education sessions on IPSAS 42 Social Benefits and ED 67 Collective and Individual Services and Emergency Relief (Amendments to IPSAS 19).

The Board agreed to provide comments to the IPSASB on ED 67.  Comments on the ED are due to the NZASB by 5 April 2019 and to the IPSASB by 31 May 2019.

The Board agreed to defer its decision to develop a PBE Standard based on IPSAS 42 until the IPSASB has completed other related projects dealing with non-exchange expenses.

IASB® Better Communication in Financial Reporting – Disclosure Initiative

The Board received an update on the IASB project Better Communication in Financial Reporting – Disclosure Initiative.

Next NZASB Meeting

Wednesday 20 March 2019 in Wellington.