The XRB seeks your feedback on the New Zealand Accounting Standards Framework

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The XRB has issued the Discussion Paper Targeted Review of the New Zealand Accounting Standards Framework.

This is your opportunity to provide feedback on the application of the New Zealand Accounting Standards Framework (ASF). The ASF sets out how the XRB develops accounting standards to give New Zealanders trust and confidence in the financial reporting of our organisations — whether they are large companies, charities or government agencies — who have a legislative requirement to prepare financial statements in accordance with accounting standards issued by the XRB.

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"For most entities, the ASF has been effective for 4–5 years. While it is too early to conduct a first-principles review of the ASF, it is timely and important that we “check-in” on whether the ASF is functioning as anticipated and whether any refinements are required."

"Your feedback is important and will help the XRB to ensure the ASF remains fit-for-purpose in the future, when developing accounting standards that meet the user-needs of Public Benefit Entities (Not-for-profit and Public Sector) and For-profit entities."

Michele J Embling
XRB Board Chair

Further information

Download Full Discussion Paper [PDF]

Download Summary Discussion Paper[PDF]

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