New Zealand


  • Service: Audit, Advisory, Accounting Advisory Services
  • Type: Business and industry issue
  • Date: 5/12/2012

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Diverse Group Ltd 2011 – NZ IFRS RDR 

Illustrative Financial Statements under NZ IFRS November 2012 (Reduced Disclosure Regime)


A  disclosure guide for those entities who are adopting the Reduced Disclosure Regime (NZ IFRS RDR) for the first time after applying NZ IFRS. The guide shows which disclosures are no longer required under the NZ IFRS RDR standards released in November 2012.


The guide illustrates one possible format for financial statements, based on a fictitious multinational corporation, Diverse Group Limited and subsidiaries. The corporation is not a first-time adopter of NZ IFRS.


Yellow text indicates that these disclosures are not required by NZ IFRS RDR (i.e. paragraphs marked as a * in the RDR standards, or relief specified by an RDR paragraph).

Green text indicates new or changed information required by NZ IFRS RDR.


This publication is a transitional publication and will not be updated in subsequent years.


While this publication provides a valuable demonstration of NZ IFRS RDR, it should not be used as a substitute for referring to the standards and interpretations themselves, particularly where a specific requirement is not addressed in this publication or where there is uncertainty regarding the correct interpretation of NZ IFRSs.


This publication does not illustrate NZ IFRS 4 Insurance Contracts, NZ IFRS 6 Exploration for and Evaluation of Mineral Resources, NZ IAS 26 Accounting and Reporting by Retirement Benefit Plans or NZ IAS 34 Interim Financial Reporting.

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Diverse Group Limited 2011

Diverse Group
Illustrative financial statements for an NZ company reporting under full NZ IFRS for the year ending 31 December 2011.

Reporting news - For-profit standards package issued

reporting news
The newly introduced Reduced Disclosure Regime was released by the XRB on 15 November 2012.