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 Impairment of Revalued Assets (Amendments to PBE IPSASs 21 and 26).
Impairment of Revalued Assets (Amendments to PBE IPSASs 21 and 26):
- applies to Tier 1 and Tier 2 public benefit entities and groups, other than where expressly exempted by its terms, the terms of any other approved accounting standard or by law;
- applies to annual financial statements covering periods beginning on or after 1 January 2019 with early application permitted; 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 13th day of April 2017.
KIMBERLEY CROOK , Chair, New Zealand Accounting Standards Board.