Building the evidence base. A snapshot from our ASF review
2 October 2026
We are continuing to lay the groundwork for our first comprehensive review of New Zealand’s Accounting Standards Framework (ASF) since its establishment.
We want to know how the ASF is working in practice, so the review will examine all aspects of the framework’s architecture, including its sector based, multi-standard, and tiered design, and how they interact. It is a significant undertaking. The ASF sits at the centre of New Zealand’s financial reporting system and provides the underlying architecture for for-profits, not-for-profit and public sector entities, and as different options are considered, trade-offs will inevitably arise.
In September we held the first of three sessions in our ASF "Need to Know" explainer series, designed to break down key concepts using slides, videos and interactive polls.
Targeted primarily at for-profit stakeholders it covered an overview of our analysis to date and included:
- possible approaches to the ASF’s sector structure
- the different reporting frameworks that could apply to Tier 1 and Tier 2 for-profit entities.
The live polling provided early insights on topics such as practical challenges under the current sector model, whether they favoured targeted improvements over significant reform, and the reporting framework options for Tier 1 and Tier 2 for-profit entities.
Even if you missed the session, you can still have your say in the questions listed in the webpage.
The results will be considered alongside the wider evidence gathered during the review. We welcome informal input while our thinking develops before formal consultation begins with a Discussion Paper in May 2027.
Your views will help us better understand what’s working well and where challenges exist. It will also inform us where fundamental changes may be needed.
Find out more about our Accounting Standards Framework review
Sign up for ASF Need-to-Know sessions on 20 October and 8 December
Have your say: Tier 1 For-Profit Reporting Frameworks
Have your say: Tier 2 For-Profit Reporting Frameworks
Provide feedback by email