Accounting Standards Alert

21 August 2026

New issued Standard

Amendments to the Fair Value Option for Investments in Associates and Joint Ventures (Amendments to NZ IAS 28)  

Read the Standard here.  

The Standard makes amendments to NZ IAS 28 Investments in Associates and Joint Ventures by amending the scope of entities that are eligible to measure investments in associates and joint ventures at fair value through profit or loss in accordance with NZ IFRS 9 Financial Instruments (the fair value option).

Commencement and application
The Standard applies to the accounting periods in relation to which NZ IFRS 18 Presentation and Disclosure in Financial Statements applies. That is, application of the amendments is required for accounting periods beginning on or after 1 January 2027.

Upcoming review of the Accounting Standards Framework

As part of our upcoming review of the Accounting Standards Framework (ASF), we are sharing our early analysis and framework options in advance of issuing a Discussion Paper in May 2027. We welcome your feedback through our short surveys to help us identify any gaps and improve the options under consideration. Read about our review and early analysis and have your say here.

Upcoming events

Introduction to the review of the Accounting Standards Framework – Part 1 (Wednesday 9 September 2026, Midday – 1:30pm)

Join us for our first introductory webinar on the XRB’s upcoming review of the Accounting Standards Framework (ASF), covering options that we plan to explore in the future Discussion Paper in relation to the ASF’s sectors and reporting frameworks for for-profit entities. Register for the event here.

Need-to-know – Accounting update for for-profit entities (Tuesday 3 November 2026, Midday – 1:00pm)  

Join us for a webinar about what is happening in the Tier 1 and 2 for-profit accounting standards space. Register for the event here.

For details on other XRB events refer to our Events page.

Guidance to help support your reporting  

NZ IFRS 18 insights – for-profit entities

In May 2026, we held a panel event to support the implementation of NZ IFRS 18 Presentation and Disclosure in Financial Statements, featuring Dr Andreas Barckow, Chair of the IASB. The discussions covered the likely impact of the standard, key practical issues, and how entities are preparing for the mandatory date of 1 January 2027.  

The following material from this event is available on our website.

• Summary document on what we heard from the discussion – Outlines practical challenges to watch out for when preparing for NZ IFRS 18 and actions other entities are taking to prepare.

• Recording (and slides) of Dr Barckow’s presentation on IFRS 18 and other international developments – Provides an overview of the background of IFRS 18 and why it was introduced.

• Recording of the panel discussion on NZ IFRS 18 which features views from practitioners and preparers – Provides practical views and matters to consider when preparing for the adoption of NZ IFRS 18.

Going concern – for-profit entities

The XRB published staff guidance for directors and preparers of financial statements in the for-profit sector, to support high-quality going concern assessment and disclosure in uncertain times. It also explains how upcoming changes to the auditing standard on going concern will enhance audit requirements and affect the auditor’s report. Read the staff guidance here.

Current consultations

For-profit entities

• For banks and insurers: Risk Mitigation Accounting – Proposed amendments to IFRS 9 and IFRS 7 – Comments to XRB close on 16 November 2026.

  
  Important – The above consultation proposes to withdraw IAS 39 Financial Instruments: Recognition and Measurement. All entities still applying the IAS 39 hedge accounting principles should consider these proposals and can reach out or provide feedback on this aspect of the proposals.