Financial Reporting Standard 42

Establishes principles and specifies minimum disclosures for entities that present general purpose prospective financial statements.

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Applicable for reporting periods as indicated. Versions prior to the previous version can be found on the archive page.

• FRS-42 – This version is effective for reporting periods beginning on or after
  1 Jan 2023 (early application permitted)

  Date of issue: Nov 2012

  Date compiled to: Jan 2022

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Amendments

Amendments to For-profit Domestic Accounting Standards due to NZ IFRS 18

The amending standard Amendments to For-profit Domestic Accounting Standards due to NZ IFRS 18 ensure that the presentation requirements for prospective financial statements are consistent, where appropriate, with the requirements for the presentation of historical financial statements under NZ IFRS 18 Presentation and Disclosure in Financial Statements.

• Amendments to For profit Domestic Accounting Standards due to NZ IFRS 18 – Periods beginning on or after
  1 Jan 2027 (early adoption permitted)

  Date of issue: Aug 2025

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New version not yet mandatory

• FRS 42 – This version is effective for reporting periods beginning on or after
  1 Jan 2027 (early adoption permitted)

  Date of issue: Nov 2012

  Date compiled to: Jan 2026

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Previous version

• FRS 42 – Effective for prospective financial statements published on or after
  1 Jan 2019 (early adoption permitted)

  Date of issue: Nov 2012

  Date compiled to: May 2018

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