Notice Type
General Section
Notice Title

Issued Accounting Standard: 2016 Omnibus Amendments to PBE Standards (Notice No. 122)

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 2016 Omnibus Amendments to PBE Standards.

2016 Omnibus Amendments to PBE Standards:

  • applies to all 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 periods beginning on or after 1 January 2017, except for the amendments to PBE IPSAS 17 Property, Plant and Equipment and PBE IPSAS 27 Agriculture for bearer plants. Those amendments apply to annual periods beginning or after 1 January 2018. Earlier application is permitted for all parts of the standard, except for the amendments arising from the Public Benefit Entities’ Conceptual Framework; 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 12th day of January 2017.

KIMBERLEY CROOK, Chair, New Zealand Accounting Standards Board.