Notice Type
General Section
Notice Title

Issued Accounting Standard: PBE FRS 48 Service Performance Reporting (Notice No. 135)

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 PBE FRS 48 Service Performance Reporting.

PBE FRS 48 Service Performance Reporting:

  • applies to all Tier 1 and Tier 2 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;
  • applies to annual financial reports covering periods beginning on or after 1 January 2021, 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

Dated this 9th day of November 2017.

KIMBERLEY CROOK, Chair, New Zealand Accounting Standards Board.