Consequential Amendments to NZ IFRS arising from NZ IFRS 20

Consequential Amendments to NZ IFRS arising from NZ IFRS 20 are amendments to certain principal NZ IFRS standards to reflect the issuance of NZ IFRS 20 Regulatory Assets and Regulatory Liabilities, namely:

·       NZ IFRS 1 First-time Adoption of International Financial Reporting Standards;

·       NZ IFRS 3 Business Combinations;

·       NZ IFRS 5 Non-current Assets Held for Sale and Discontinued Operations;

·       NZ IFRS 18 Presentation and Disclosure in Financial Statements;

·       NZ IAS 8 Basis of Preparation of Financial Statements;

·       NZ IAS 36 Impairment of Assets;

·       NZ IFRIC 12 Service Concession Arrangements;

·       NZ SIC 29 Service Concession Arrangements: Disclosures; and

·       XRB A1 Application of the Accounting Standards Framework).

 

Commencement and application

This standard applies to the accounting periods in relation to which NZ IFRS 20 Regulatory Assets and Regulatory Liabilities applies. That is, application of the amendments is required for accounting periods beginning on or after 1 January 2029.

  • Consequential Amendments to NZ IFRS arising from NZ IFRS 20 – Periods beginning on or after 1 Jan 2029 (early adoption permitted)

    Date of issue: Oct 2026

    Date compiled to: Oct 2026

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Consistency with principles of responsible regulation

The External Reporting Board provides the following document relating to its review of this secondary legislation, and its process for developing it, for consistency with the principles of responsible regulation under the Regulatory Standards Act 2025: 

  • A consistency accountability statement on 22 October 2026:
  • A copy of this document can be found at here.

The External Reporting Board considers that a statement from the maker under section 14(1)(b) of the Regulatory Standards Act 2025 is not required for this secondary legislation. 

Standards and guidance