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 the Public Benefit Entities’ Conceptual Framework (“PBE Conceptual Framework”).

The PBE Conceptual Framework:

• applies to all Tier 1, Tier 2 and Tier 3 public benefit 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 2017, with early application permitted provided an entity has applied, or is applying, PBE Standards, PBE SFR- A (NFP) Public Benefit Entity Simple Format Reporting – Accrual (Not-For-Profit) or PBE SFR- A (PS) Public Benefit Entity Simple Format Reporting – Accrual (Public Sector); and
• is a disallowable instrument for the purposes of the Legislation Act 2012.

Copies of the PBE Conceptual Framework 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 19th day of May 2016.

KIMBERLEY CROOK, Chair, New Zealand Accounting Standards Board.