Notice Type
General Notices
Notice (No. 11) of Approval of Amendments to Financial Reporting Standard Notice is hereby given, pursuant to section 29 of the Financial Reporting Act 1993 (``the Act'') that the Accounting Standards Review Board has approved, for the purposes of the Act, the amendments to Financial Reporting Standard No. 9 ``Information to be Disclosed in Financial Statements'' submitted to it by the New Zealand Society of Accountants. The effect of the amendments is that: 1. [ix]The requirement to disclose total directors' remuneration and benefits, regardless of source or how they were earned, has been limited to total directors' fees, and the definition of ``director'' has been limited to persons occupying the position of a member of the governing body of the entity.[ci] 2. [ix]Total operating revenue may now be disclosed either in the statement of financial performance or in the notes to financial statements.[ci] 3. [ix]The requirement to provide an indication of the fair value and basis of valuation of investments which are not publicly traded has been deleted.[ci] The amendments to FRS9 take effect in respect of accounting periods and interim accounting periods ending on or after 30 June 1996. A copy of the amendments and the consequential amendments to the relevant commentary may be purchased from the office of the New Zealand Society of Accountants, 40 Mercer Street (P.O. Box 11-342), Wellington and 2733 Ohinerau Street (P.O. Box 3334), Remuera, Auckland. Dated this 28th day of May 1996. J. O. LUSK, Deputy Chairman, Accounting Standards Review Board.
Publication Date
30 May 1996

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