NZASB Update 8/2019

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.


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Have you ever wondered why we publish different versions of the same accounting standard on our website? Why isn't there just one version?

Are you not sure which version of an accounting standard applies to your reporting period? What is meant by "early adoption"?

We have developed two short explanatory videos that will help answer these questions for you!

IASB exposure draft of Annual Improvements to IFRS Standards 2018–2020

 IASB Annual Improvements ED Cover

Applies to:


The IASB has recently issued an exposure draft (ED) of narrow-scope amendments to four IFRS Standards as part of its regular maintenance and improvements to the standards.

The IASB’s annual improvements are limited to changes that:

  • clarify the wording in a Standard; or
  • correct minor unintended consequences, oversights or conflicts between requirements in the Standards.

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The four proposed amendments included in the ED for the 2018-2020 cycle are:

Please send your comments to the NZASB by 22 July 2019 or direct to the IASB by 20 August 2019.

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Applies to:

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Are you on LinkedIn? It's easy to add our XRB page to your feed. 

We post regular updates and re-post a constant stream of topics, articles, and trending content related to financial services and standard-setting and bring it all together for you in one place.

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Next time you're on LinkedIn, simply search for the External Reporting Board's page and then select the 'Follow' button.  Take some time to look at our website too...

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We welcome your interest and participation! 

Have your say

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Before issuing a finalised accounting standard the NZASB and the international standard-setting boards, the IASB and the 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. 

Tell us how these changes could affect your entity or the entities you work with.

We welcome your comments and feedback, either formal or informal, by the due dates below.

You can now submit directly from the Exposure Draft page on our website.

NZASB Consultation Documents

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IASB and IFRS Foundation Consultation Documents


IPSASB Consultation Documents

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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.

This NZASB Update refers to the work of the International Accounting Standards Board (IASB) and uses registered trademarks of the IFRS Foundation (for example, IFRS® Standards, IFRIC® Interpretations and IASB® papers).