Notice is hereby given, pursuant to section 29 of the Financial Reporting Act 1993 ("the Act"), that the Accounting Standards Review Board has approved Classification of Rights Issues - Amendment to New Zealand Equivalent to International Accounting Standard 32 Financial Instruments: Presentation (Amendment to NZ IAS 32), which has been submitted to it by the Financial Reporting Standards Board of the New Zealand Institute of Chartered Accountants.
The amendment to NZ IAS 32 is:
- 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 beginning on or after 1 February 2010; and
- a Regulation for the purposes of the Regulations (Disallowance) Act 1989.
Earlier application of the Amendment to NZ IAS 32 is permitted.
Copies of the amendment to NZ IAS 32 may be inspected free of charge at the offices of the New Zealand Institute of Chartered Accountants, 50 Customhouse Quay (PO Box 11342), Wellington, and 27-33 Ohinerau Street (PO Box 3334), Auckland.
Copies of the amendment to NZ IAS 32 are also available on the institute’s website at
Dated this 18th day of November 2009.
KEVIN SIMPKINS, Chairman, Accounting Standards Review Board.