New Zealand


  • Service: Audit, Advisory, Accounting Advisory Services
  • Type: Business and industry issue
  • Date: 15/08/2010

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Simon Lee

Simon Lee

Technical Director, Accounting Advisory Services

+64 4 816 4678

Accounting Advisory Services

We can help with complex financial reporting regulations, optimise relevant reporting processes and incorporate new requirements.

The External Reporting Board (XRB) 

new financial reporting


The XRB’s changes to the accounting standards framework separates New Zealand financial reporting standards into two sectors. For-profit entities with a reporting requirement will apply NZ IFRS based standards with a reduced disclosure option for entities that qualify.


Public sector and not-for profit entities will apply standards which are based on International Public Sector Accounting Standards (IPSAS) as amended for New Zealand specific requirements.

Each sector is then split into tiers -  tier 1 contains issuers and other publicly accountable entities and tier 2 contains those entities that can apply the reduced disclosure regime (RDR).


Further information



Overview of the tiers
tiered reporting

Current consultation on a new Financial Reporting Framework

new rf
Details on the forthcoming changes to the financial reporting framework - legislative changes and the revised accounting standards framework.