Notice is hereby given, pursuant to section 31 of the Financial Reporting Act 1993, that the External Reporting Board has issued Standard XRB A1 Accounting Standards Framework (For-profit Entities plus Public Sector Public Benefit Entities Update) (XRB A1 (FP Entities + PS PBEs Update)).
Standard XRB A1 (FP Entities + PS PBEs Update):
- applies to all reporting entities and groups, other than where expressly exempted by its terms, the terms of any other approved accounting standard or by law;
- applies to reporting periods beginning on or after 1 July 2014, with early adoption permitted for for-profit entities and
not-for-profit public benefit entities. Early application is not permitted for public sector public benefit entities; and
- is a Regulation for the purposes of the Regulations (Disallowance) Act 1989.
Copies of the standards may be inspected free of charge at the offices of the External Reporting Board (XRB), Level 7,
50 Manners Street, Wellington.
Copies are also available on the XRB’s website
Dated this 20th day of May 2013.
KEVIN SIMPKINS, Chair, External Reporting Board.