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 plus Not-for-profit Entities Update) (XRB A1 (FP Entities + PS PBEs + NFPs Update)).
Standard XRB A1 (FP Entities + PS PBEs + NFPs 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 April 2015, with early adoption permitted for for-profit
entities and not-for-profit public benefit entities. Early application is permitted for public sector public benefit entities for reporting periods beginning on or after 1 July 2014; and
- is a disallowable instrument for the purposes of the Legislation Act 2012.
Copies of the Standard 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
www.xrb.govt.nz
Dated this 15th day of November 2013.
KEVIN SIMPKINS, Chairman, External Reporting Board.