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 New Zealand Equivalent to the IASB Conceptual Framework for Financial Reporting (2018 NZ Conceptual Framework).

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 Amendments to References to the Conceptual Framework in NZ IFRS.

The 2018 NZ Conceptual Framework and Amendments to References to the Conceptual Framework in NZ IFRS:

• apply to all Tier 1 and Tier 2 for-profit reporting entities and groups, other than where expressly exempted by its terms, the terms of any other approved accounting standard or by law;
• apply to annual periods beginning on or after 1 January 2020, with early application permitted; and
• are disallowable instruments for the purposes of the Legislation Act 2012.

Copies of the 2018 NZ Conceptual Framework and Amendments to References to the Conceptual Framework in NZ IFRS 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 10th day of May 2018.

KIMBERLEY CROOK, Chair, New Zealand Accounting Standards Board.