Notice is hereby given, pursuant to section 24 of the Financial Reporting Act 2013, that the External Reporting Board has issued Standard XRB A1 Application of the Accounting Standards Framework.
Standard XRB A1 Application of the Accounting Standards Framework:
- 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; and
- applies to for-profit entities, public sector public benefit entities and not-for-profit public benefit entities for reporting periods beginning on or after 1 January 2016, with early adoption permitted for reporting periods beginning on or after 1 April 2015; 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
Dated this 10th day of December 2015.
GRAEME R. MITCHELL, Chairman, External Reporting Board.