NZASB Update #23

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.

Board meeting figures with speech bubbles

NZASB Board meeting

Wednesday 31 October 2018, Wellington

For-profitNot-for-profitPublic Sector

The NZASB intends to discuss a range of topics affecting both Public Benefit Entities (PBEs) and for-profit entities.

Agenda items for the public session include:

  • approving the Exposure Draft (ED) and Invitation to Comment (ITC) for
    PBE IFRS 17 Insurance Contracts;
  • approving the EDs and ITC for PBE IPSAS 41 Financial Instruments;
  • approving the ED and ITC for amendments to Appendix A When is an entity a public benefit entity? of XRB A1;
  • discussing draft amendments to the PBE Policy Approach1;
  • discussing the draft comment letter from the NZASB to the International Accounting Standards Board (IASB) on the Financial Instruments with Characteristics of Equity discussion paper; and
  • approving the 2018 Omnibus Amendments to PBE Standards

[1] Full title is the Policy Approach to Developing the Suite of PBE Standards.

Did you know that NZASB meetings are open to the public?

You can access the public agenda, meeting papers and register to attend an NZASB meeting on the XRB website. We upload the meeting papers to the website a week before the meeting.

Have a look

Have your say...

Have your say speech bubblesBefore issuing a finalised accounting standard the NZASB and international standard-setting boards, such as the IASB and International Public Sector Accounting Standards Board (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.




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


Not-for-profitPublic Sector



Comments due to the NZASB

Comments due to the IPSASB

NZASB ED 2018-4

PBE IPSAS 40 PBE Combinations

31 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.