NZASB Update 6/2021

XRB virtual event, IASB disclosure requirements, upcoming NZASB Meeting...

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.

Why not follow us on LinkedIn to catch up on our activities?

In this NZASB Update we feature:

  • XRB Virtual Event: Mergers and acquisitions within the same group, on 13 April 2021
  • IASB ED on Disclosure Requirements in IFRS Standards
  • Upcoming NZASB meeting on 14 April 2021

Virtual XRB event

Accounting for mergers and acquisitions within the same group (with IASB Vice-Chair Sue Lloyd)

 Webinar icon

Applies to:


The IASB is exploring possible new reporting requirements for mergers and acquisitions within the same group, referred to as ‘business combinations under common control’.

To hear about the IASB’s proposals and share your views, join our virtual event – featuring IASB Vice-Chair, Sue Lloyd, and IASB staff.

The event will run on Tuesday 13 April 2021, 9:00AM–10:30AM.

Register here


Sue LloydSue Lloyd

IASB Vice-Chair

Yulia FeyginaYulia Feygina

IASB Staff – Project Lead

For more information on the Discussion Paper Business Combination Under Common Control and on how to make a submission, please refer to the link below.

Have a look

IASB proposes new approach to disclosure requirements

IASB ED/2021/3 cover

Applies to:


The IASB has developed a new approach to developing disclosure requirements in standards. The new approach responds to concerns that the notes to the financial statements sometimes include too little relevant information, too much irrelevant information or ineffective communication. The new approach is intended to help entities in making decisions about what information to disclose rather than using a ‘checklist’ or ‘boilerplate’ approach.

The IASB ED Disclosure Requirements in IFRS Standards—A Pilot Approach seeks feedback on the new approach and the application of new approach to the disclosure requirements in two standards– IAS 19 Employee Benefits and IFRS 13 Fair Value Measurement. The IASB wants to know if the new approach would help improve the usefulness of information disclosed.

For more information on the proposals and how to provide feedback, follow the link below.

Send your comments to the NZASB by 1 September 2021 and to the IASB by 21 October 2021.

Have a Look 

Upcoming NZASB Meeting 

14 April 2021

 NZASB logo

Applies to:

For-profitNot-for-profitPublic Sector

The NZASB meeting will be a full day virtual meeting. 

You can access the public agenda, public meeting papers and register to attend this meeting on our website. 

Have a look

The Board in the public session will discuss the following for-profit items: 

  • The recently issued Request for Information (RFI) Third Agenda Consultation by the IASB;
  • Decide whether to comment on the recently issued IASB ED Disclosure Requirements in IFRS Standards – A Pilot Approach;
  • Discuss issues relating to Business Combinations under Common Control; and  
  • IASB Interpretations Committee Update.

The Board in the public session will discuss the following PBE items:

  • The IPSASB Measurement projects (which includes heritage and infrastructure);
  • The IPSASB ED and RFI on Leases; and
  • Public Sector Insurance.

Consultation papers open for comment

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The following consultation papers are currently open for comment.

We welcome your comments and feedback, either formal or informal, by the due dates below. You can submit your comments directly from the consultation page on our website following the links below.


IASB Consultation Documents


* Request for Information

IPSASB Consultation Documents

Not-for-profitPublic Sector

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.

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