Notice is hereby given, pursuant to section 24 of the Financial Reporting Act 2013, that the New Zealand Accounting Standards Board of the External Reporting Board has issued Annual Improvements to NZ IFRSs 2012-2014 Cycle.

Annual Improvements to NZ IFRSs 2012-2014 Cycle:

• applies to all Tier 1 and Tier 2 for-profit reporting entities and groups, other than where expressly exempted by its terms, the terms of any other approved accounting standard or by law; and
• applies to annual periods beginning on or after 1 January 2016, with early adoption allowed; 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 at

www.xrb.govt.nz

Dated this 20th day of November 2014.

KIMBERLEY CROOK, Chair, New Zealand Accounting Standards Board.