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 2018 Omnibus Amendments to PBE Standards.

2018 Omnibus Amendments to PBE Standards:

• 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.
• except as noted below, applies to annual financial statements covering periods beginning on or after 1 January 2019. Earlier application is permitted.
• The amendments to PBE IPSAS 2 Cash Flow Statements are effective for annual financial statements covering periods beginning on or after 1 January 2021. Earlier application is permitted.
• The amendments to PBE IPSAS 38 Disclosure of Interests in Other Entities are to be applied retrospectively for annual financial statements covering periods beginning on or after 1 January 2019.
• The amendments to PBE IFRS 3 Business Combinations are effective for business combinations for which the acquisition date is on or after the beginning of the first annual reporting period beginning on or after 1 January 2019. Earlier application is permitted.
• 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 8th day of November 2018.

KIMBERLEY CROOK, Chair, New Zealand Accounting Standards Board.