NZASB Update 12/2021

Measurement webinar; Survey on the IASB’s Agenda Consultation closing soon; NZASB June 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 our:

  • Measurement webinar on Thursday, 8 July;
  • Survey on the IASB’s Agenda Consultation which is closing soon;
  • NZASB June NZASB meeting; and
  • current consultations.

Webinar on IPSASB Measurement EDs


Applies to:

Public Sector

The IPSASB is proposing changes to how public sector entities measure assets. Because our PBE Standards are based on IPSAS, it is important that the proposed changes would work for Aotearoa New Zealand. 

Join us at a short lunchtime webinar which will explore how the IPSASB’s proposals could affect you. The webinar will be of particular interest if you:

  • revalue certain classes of property, plant and equipment (such as land, buildings, and specialised assets);
  • use depreciated replacement cost (DRC);
  • have infrastructure assets; or
  • have heritage assets.

Join us at 12 noon on 8 July 2021 to find out more.

Register here

Take a look at our website for more information about the IPSASB’s proposals.

Read more

Comments close on the IPSASB’s proposals to the NZASB on 2 September 2021 and to the IPSASB on 25 October 2021.

IASB Agenda Consultation—Have your say...

Thank you to the many respondents who have already completed our Agenda Consultation Survey.

There is still time to respond to this quick survey to assist the XRB with completing our submission on the IASB’s agenda priorities for the next 5 years.

We are particularly interested in your views on the financial reporting areas that require future standard-setting activity.

For a quick summary of the projects:

Summary table of 22 IASB potential projects

Go to the survey

Please complete this survey by 14 July 2021.

NZASB June Meeting  

23 June 2021 

 NZASB logo

Applies to:

For-profitNot-for-profitPublic Sector

Due to Wellington Covid-19 Alert Levels unexpectedly changing on the day of our June meeting, the Board meeting concluded early so that some of our Board members and staff could fly home. The meeting business will be completed at a virtual meeting on 2 July 2021, and a full meeting summary and website notice will be provided after that.  

You can access the public agenda and meeting papers on our website. 

Have a look

Consultation papers open for comment

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

There are no domestic consultations at this time.

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).