Notice is hereby given, pursuant to section 29 of the Financial Reporting Act 1993 (“the Act”), that the Accounting Standards Review Board has approved the Improvements
to New Zealand Equivalents to International Financial Reporting Standards (June 2008) (“Improvements to NZ IFRSs (June 2008)”), which has been submitted
to it by the Financial Reporting Standards Board of the
New Zealand Institute of Chartered Accountants.
The Improvements to NZ IFRSs (June 2008) are:
? to apply to all reporting entities and groups, the Crown and all departments, offices of Parliament and
Crown entities, and all local authorities (each of which
is defined in the Act) other than where expressly exempted by its terms, the terms of any other approved financial reporting standard or by law;
? to apply to annual periods as stated for each of
the amendments in the Improvements to NZ IFRSs
(June 2008); and
? to Regulation for the purposes of the Regulations (Disallowance) Act 1989.
Earlier application of the Improvements to NZ IFRSs
(June 2008) is permitted.
Copies of the Improvements to NZ IFRSs (June 2008)
may be inspected free of charge at the office of the
New Zealand Institute of Chartered Accountants,
40 Mercer Street (PO Box 11342), Wellington, and 27–33 Ohinerau Street (PO Box 3334), Auckland, and available as soon as practicable on the institute’s website
www.nzica.com
Dated this 13th day of June 2008.
WARWICK HUNT, Chairman, Accounting Standards Review Board.