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Guidance for For-Profit Entities Reporting under Crown Accounting Policies and PBE Standards

Page updated 9 Jun 2017

One of the challenges arising from the new accounting framework is that of mixed group reporting.  This arises where a consolidated group contains both for-profit entities that report under NZ IFRS standards and public benefit entities (PBEs) that report under PBE standards.

For the Government reporting group, which is designated as a PBE, this means that sometimes for-profit entities will need to adjust their CFISNet schedules for group reporting purposes to ensure they comply with Crown accounting policies and PBE standards.

We are very aware of the extra work this may create for for-profit entities – monitoring changes to two sets of standards, assessing the implications then making and maintaining adjustments. Therefore, the Treasury will consider the implications of significant changes to NZ IFRS standards and PBE standards before determining whether an adjustment is actually required. This information will be issued in circulars and documents linked to this web-page.

Resources to Assist You

To help you stay informed about changes, we will also periodically publish tables of all new standards and amendments issued by the XRB. In addition, we will provide links to other information you may find helpful.

Treasury Resources

Treasury Circulars

External Resources

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