Pitopito Kōrero

Special Edition

March 2023

XRB Wins prestigious award

Last night at the KangaNews Debt Capital Markets Awards held in Sydney, Michele Embling and April Mackenzie were awarded Australasian Market People of the Year for their work to deliver the Aotearoa New Zealand Climate Standards.

Market participants gave this accolade to the External Reporting Board: saying:

"New Zealand is well progressed on the journey to integrating financial markets, sustainability and the world of regulatory and legislative policy. A key part of that process is the country’s commitment to transparent climate disclosures from all key economic actors.

New Zealand passed a significant landmark late in 2022 with the publication of its climate-related disclosure standards – a piece of work delivered over three consultative iterations over 18 months. The External Reporting Board steered this process, and the KangaNews Awards acclaim the efforts of its Chair, Michele Embling, and Chief Executive, April Mackenzie, for delivering an outcome that market participants believe meets the needs and expectations of all stakeholders."

Previous Pitopito Kōrero

Issue	Topics
February	Assurance of GHG emissions, Interim Stakeholder Survey, Financial information for capital raising, Climate Standards - updated guidance coming soon

Issue	Topics
December	Pioneering a new world for reporting.
November	Research on Key Audit Matters released, Update: Not-for-Profit and Public Sector Reporting, Project update - Ngā pou o te kawa ora.
October	Considering climate impacts in financial statements, survey on GHG assurance, Research on Intangible Assets - Grant up for grabs.
September	Project Ngā pou o te kawa ora commences, Resource page for Incorporated societies, GHG Assurance update.
August	XRB Stakeholder Engagement Research, Refresed Service Performance Reporting guidance, GHG Assurance update, Climate reporting consultation launched.
July	Major climate milestone ahead, disclosure of fees paid to audit firms, auditor independence strengthened.
June	Defining Public Interest Entity in New Zealand, scenario analysis sector guidance, global influence - NZ view helps shape IASB work plan.
May	Launch of the Tiers 3 & 4 Not-for-Profit and Public Sector consultation, decision on non-assurance services, and Climate-related Disclosure consultation closed.
April	Getting started on measuring GHG emissions, assurance of GHG emission disclosures, and our work on improving financial statement disclosures.
March	Launch of second Climate consultation, strengthening independence standards, and changes to PBE Lease Accounting requirements.
February	On the Horizon, Submission to the IAASB regarding a standalone LCE standard, XRB welcomes new Climate report.

Issue	Topics
December	Message from the Chair
December	Positive feedback following climate consultation, Mixed views on Less Complex Entities auditing standard, Improving Not for Profit reporting requirements
November	Climate consultation in full swing, New Quality Management Standards, Feedback sought on IFRS 9 application issues, Changes to statutory reporting and audit size thresholds
October	First Milestone for Climate-related Disclosures, Influencing International Standard Setting, Perspectives on Auditors Performing Additional Services
September	Emerging Questions for Climate Disclosures, Less Complex Audits for Less Complex Entities, Improving Tier 3 & 4 Public Benefit Entity Standards
August	Governance & Risk First up for Climate Standards, Auditor Independence, Issues with Accounting for SaaS
July	10-year Anniversary Launch Edition

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Pitopito Kōrero

XRB Wins prestigious award

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