IFRS Practice Statements and Guides

The International Accounting Standards Board (IASB) has issued the following IFRS Practice Statements and Guides.

These publications provide
non-mandatory guidance. Entities applying IFRS® Standards, are not required to comply with these publications in order to state compliance with IFRS Standards.

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Note, if your entity reports in accordance with NZ IFRS, you may be subject to other requirements or guidance on matters covered in these publications. You are still required to comply with all applicable laws and regulations. 


Management Commentary

Making Materiality Judgements

Provides a broad, non-binding framework for presenting management commentary on financial statements that have been prepared in accordance with IFRS Standards.

Practice Statement 1

Provides guidance and examples that help preparers in making materiality judgements.

Practice Statement 2

Guide to Selecting and Applying Accounting Policies - IAS 8

Provides guidance on how to apply IAS 8 Accounting Policies, Changes in Accounting Estimates and Errors in selecting and applying accounting policies for transactions, other events and conditions. Read the guidance here.

This page refers to the work of the International Accounting Standards Board (IASB) and uses registered trademarks of the IFRS Foundation (for example, IFRS® Standards, IFRIC® Interpretations and IASB® papers).