The Accounting Standards Review Board hereby gives a direction, pursuant to section 24(1)(d) of the Financial Reporting Act 1993, that the New Zealand Equivalent to the IASB Conceptual Framework for Financial Reporting 2010, issued by the Financial Reporting Standards Board of the New Zealand Institute of Chartered Accountants, has authoritative support within the accounting profession in New Zealand.
Dated this 2nd day of February 2011.
KEVIN SIMPKINS, Chairman, Accounting Standards Review Board.