NZASB Meeting 2 May 2019

  • For-profit
  • Not-for-profit
  • Public Sector
Event Date 02 May

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 in the public sessions.

Appendix A of XRB A1

The Board considered submissions received on XRB ED 2018 Amendments to XRB A1 Appendix A and approved 2019 Amendments to XRB A1 Appendix A.[1]

At the XRB Board meeting earlier the same week, the XRB Board approved 2019 Amendments to XRB A1 Appendix A for issue, subject to any matters arising from the NZASB’s consideration of submissions.

The standard is effective for periods beginning on or after 1 January 2020. Early adoption is permitted.

Exposure Draft of 2019 Omnibus Amendments to NZ IFRS

The Board approved for issue, subject to amendments agreed at the meeting, NZASB Exposure Draft 2019-2 2019 Omnibus Amendments to NZ IFRS and the accompanying Invitation to Comment. Comments will be due to the NZASB by 16 August 2019.

Service Performance Reporting Guidance

The Board provided feedback on the draft guidance on PBE FRS 48 Service Performance Reporting.

IPSASB Collective and Individual Services and Emergency Relief  

The Board approved its comment letter on International Public Sector Accounting Standards Board (IPSASB) ED 67 Collective and Individual Services and Emergency Relief (Amendments to IPSAS 19) (the ED), subject to changes agreed at the meeting.

Comments on the ED are due to the IPSASB by 31 May 2019.

Next NZASB Meeting

The next public meeting is Thursday 27 June 2019 in Wellington.


[1] The ED was issued as 2018 Amendments to XRB A1 Appendix A. The standard is titled 2019 Amendments to XRB A1 Appendix A as this is the year the amendments have been approved for issue.