New Zealand resources

This section features New Zealand organisations providing EER resources.

A sub-board of the XRB responsible for the development and issue of accounting standards in New Zealand.



Date issued

 FRS-42 cover

Financial Reporting Standard No. 42

Prospective Financial Statements


 Dec 2005

An accounting standard that applies to entities that are required—by legislation or regulation—to present general purpose prospective financial statements that comply with GAAP.

Hence, compliance is not compulsory in other circumstances, such as when entities voluntarily provide forward-looking information in their annual report.



Date issued

FRS 48 cover

Public Benefit Entity Financial Reporting Standard No. 48

Service Performance Reporting

(PBE FRS 48)


 Nov 2017

This Standard establishes principles and requirements for a public benefit entity* (PBE) to present service performance information that is useful for accountability and decision-making purposes in a general purpose financial report.

Please note that this standard has been developed for Tier 1 and Tier 2 Public Benefit Entities. However, some of the principles and requirements may be of assistance to for-profit entities looking to report EER information.

*A reporting entity whose primary objective is to provide goods or services for community or social benefit and where any equity has been provided with a view to supporting that primary objective rather than for a financial return to equity holders.

The FMA regulates capital markets and financial services in New Zealand.



Date issued

 Disclosing non-GAAP financial information cover

Disclosing non-GAAP financial information

Jul 2017

Sets out the FMA’s expectations on the use any non-GAAP financial information an FMC reporting entity discloses outside its financial statements, including any non-GAAP information presented on a pro forma basis.

It contains the general principles that FMC reporting entities should follow when presenting non-GAAP financial information. Entities following these principles will contribute to the reliability and comparability over time of non-GAAP financial information and reduce the potential for misleading disclosure. 



Date issued

 Corporate Governance in NZ cover

Corporate Governance in New Zealand—Principles and guidelines


Feb 2018

Assists directors, executives and advisers of non-listed and public sector companies, and other entities, to apply corporate governance principles to their particular entity.

Re-issued in February 2018 to remove any unnecessary overlap with the NZX Code, particularly to ensure the NZX Code is the primary source for requirements for listed companies.

Also updated in a number of places to bring it in line with corporate governance developments in New Zealand and globally.

The NZX operates New Zealand capital, risk and commodity markets.



Date issued

NZX Code cover

NZX Corporate Governance Code (NZX Code)

May 2017

Applies for all reporting periods from 1 October 2017

Applies to all listed issuers on the NZX Main Board that do not fall under an exception in the Listing Rules.

Structured around eight principles: The NZX Code outlines recommendations under each principle recommending areas of good practice.

Principle four covers reporting and disclosure. Recommendation 4.3 covers non-financial reporting.

Under the NZX Code, if the Board of an issuer considers that a recommendation is not appropriate because it does not fit the issuer’s circumstances, it is entitled not to adopt it. If it does not adopt it, it must explain why it has not. This is the basis of the ‘comply or explain’ (‘if not, why not’) approach.



Date issued

 ESG Guidance Note cover  ESG Guidance Note

 Dec 2017

For NZX listed issuers considering the disclosure of ESG factors under the NZX Code, this guidance is built on the understanding that most businesses will have some sort of interaction with one or more of the branches of ESG. While not exhaustive, it aims to help issuers better understand the benefits of ESG reporting and the global reporting regimes available.

Also references to other resources for guidance on materiality. The NZX short-listed the global reporting frameworks down to three commonly used in Australia and New Zealand, namely, GRI, <IR> and UNGC. 



Date issued

 Guidance Note - Diversity Policies and Disclosures Cover

Guidance Note: Diversity Policies and Disclosures

 Feb 2015

Covers reporting gender composition, and diversity policies in a variety of forms.

Note that the NZX Rules do not require a listed company to adopt a diversity policy. However, if the listed company does adopt a diversity policy then a statement in the company’s Annual Report evaluating the diversity policy is required by NZX.