NZASB Update #22

This NZASB Update provides you with an overview of the New Zealand Accounting Standards Board’s recent activities, any new standards or interpretations, as well as other matters of interest.

Exposure draft issued on PBE Combinations 

Not-for-profitPublic Sector

Jigsaw puzzle imageThe NZASB has issued NZASB ED 2018-4 PBE Combinations (the ED) and is seeking feedback by 31 January 2019.

The ED sets out proposals for accounting for combinations (amalgamations and acquisitions) that would replace the requirements in PBE IFRS 3 Business Combinations. It is based on IPSAS 40 Public Sector Combinations, issued by the International Public Sector Accounting Standards Board (IPSASB).

There are some significant differences between the proposals in the ED and the requirements in PBE IFRS 3, which are highlighted in the Invitation to Comment. The ED has a broader scope than PBE IFRS 3 and also addresses the accounting for amalgamations. 

We welcome your comments and feedback.  In particular, if you have previously been involved in accounting for an amalgamation or an acquisition, or may be involved in a PBE combination, we want to hear from you!

Access the ED 

Webinar on PBE Combinations

Not-for-profitPublic Sector


webinar iconWe are holding a webinar on Wednesday 14 November from

12:00PM – 1:00PM.


This will cover:

  • an overview of the ED;
  • significant differences between the proposals in the ED and the requirements in PBE IFRS 3;
  • classifying a combination as an amalgamation or an acquisition; and
  • accounting for amalgamations and acquisitions.

There will also be an opportunity to ask questions.

It is free to register, but please register in advance.

Register here


Have your say...

Have your say imageBefore issuing a finalised accounting standard the NZASB and international standard-setting boards, such as the International Accounting Standards Board (IASB) and IPSASB, issue consultation documents. These documents seek your feedback on proposals that could potentially affect you.

We are currently consulting on the matters set out in the tables below. 

We welcome your comments and feedback, either formal or informal, by the due dates below. Tell us how these changes could affect your entity or the entities you work with.

Not-for-profitPublic Sector

Tier 1 and Tier 2



Comments due to the NZASB

Comments due to the IPSASB

NZASB ED 2018-4

PBE Combinations

31 Jan 2019



Long‑term Interests in Associates and Joint Ventures (Amendments to IPSAS 36) and Prepayment Features with Negative Compensation (Amendments to IPSAS 41)

22 Oct 2018

22 Oct 2018




Comments due to the NZASB

Comments due to the IASB

IASB DP/2018/1 

Financial Instruments with Characteristics of Equity

7 Nov 2018

7 Jan 2019


This NZASB Update is intended to provide subscribers with a summary of the recent activities of the New Zealand Accounting Standards Board (NZASB). Links to websites are correct at the time of publication. Subscribers should not rely on this newsletter as a definitive publication of updates. The External Reporting Board and its sub-Board the NZASB do not guarantee, and accept no legal liability whatsoever arising from or connected to, the accuracy, reliability, currency, timeliness or completeness of this newsletter. The information contained in this newsletter does not constitute advice and should not be relied upon as such.