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Guidance for Public Benefit Entities Reporting Under Crown Accounting Policies and PBE Standards

Page updated 9 Jun 2017

The new accounting framework changes mean that from 1 July 2014, public sector PBEs report against a new suite of PBE standards. This new suite is made up of mainly International Public Sector Accounting Standards (IPSASs), modified where appropriate for the New Zealand context. The suite also includes five NZ International Financial Reporting Standards (NZ IFRS) and four domestic standards (FRSs).

The Government reporting entity is designated as a PBE and therefore, the consolidated Financial Statements of the Government (FSG) needs to be prepared using the new PBE standards from the financial year 2014/15.

On transition, the new suite of PBE standards was found to be highly converged with previous NZ IFRSs as applied by PBEs.

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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