Public Benefits Entities
ED PBE IPSAS 47 Revenue and ED PBE IPSAS 48 Transfer Expenses for Tier 1 and Tier 2 PBE’s - both consultations close December 1
Have your say on these proposed new PBE standards which aim to enhance clarity, consistency, and transparency in revenue and transfer expense accounting. You can access each exposure draft, along with consultation documents and educational resources, on our website.
We will discuss these new proposals at upcoming Need to Know webinars. You can register using the links below:
Keep an eye on our events webpage and accounting alerts for details of further events and feedback opportunities that will be added throughout the consultation period.
IPSASB ED 93 Definition of Material
IPSASB Exposure Draft (ED) 93 aims to align the definition of material between the Conceptual Framework and IPSAS accounting standards. This ED clarifies that public sector entities, when applying the concept of materiality:
must consider the information needs of primary users of general purpose financial reports;
must consider whether information could reasonably be expected to influence accountability and the decisions of primary users; and
must not obscure material information.
The consultation for IPSASB ED 93 is open for public comment until June 27. For further details, visit the consultation page on our website.
For-profit Entities
NZ IFRS 18 Presentation and Disclosure in Financial Statements in Focus
Upcoming deep dive events – NZ IFRS 18 Presentation and Disclosure in Financial Statements
New categories and subtotals in the statement of profit or loss – June 5, 12:30pm – 1:30pm – watch here.
Grouping of information in the financial statements – Thursday, August 7, 12:30pm – 1:30pm – register here.
Management-defined performance measures – Tuesday, October 7, 12:30pm – 1:30pm – register here.
In case you missed it - sign up to our NZ IFRS 18 monthly updates here. You can find previous editions of this alert on our NZ IFRS 18 webpage.
Open consultation:
Domestic Consultation
ED 2025 Amendments to XRB A1 – consultation closes August 29
XRB A1 establishes the Accounting Standards Framework in New Zealand, including the criteria for the different financial reporting tiers. This ED seeks to make application of XRB A1 easier and improve consistency by:
Clarifying the definition of public accountability
Increasing the Tier 1 size threshold for for-profit public sector entities to $33 million of total expenses
Clarifying the PBE Tier 4 criteria
For further detail, visit the consultation page on our website.
Upcoming New Zealand Accounting Standards Board (NZASB) Meeting
