Notice is given, pursuant to the Legislation Act 2019, that the External Reporting Board:

• has issued 2025 Amendments to XRB A1 Application of the Accounting Standards Framework.

This standard:

• applies to all reporting entities and groups, other than where expressly exempted by its terms, the terms of any other approved accounting standard or bylaw;
• was issued on 19 June 2026 under section 12(a) of the Financial Reporting Act 2013;
• takes effect on the 28th day after the date of this notice; and
• is secondary legislation for the purposes of the Legislation Act 2019.

Commencement and Application

The accounting periods in relation to which this standard commences to apply are:

1. For an early adopter, those accounting periods following and including, the early adoption accounting period.
2. For any other reporting entity, those accounting periods following, and including, the first accounting period for the entity that begins on or after the mandatory date.

Early adopter means a reporting entity that applies this standard for an early adoption accounting period.

Early adoption accounting period means an accounting period of the early adopter:

1. that begins before the mandatory date but has not ended or does not end before this standard takes effect (and to avoid doubt, that period may have begun before this standard takes effect); and
2. for which the early adopter:
   1. first applies this standard in preparing its financial report; and
   2. discloses in its financial report for that accounting period that this standard has been applied for that period.

Mandatory date means 1 January 2027.

This standard is available on the website of the External Reporting Board at www.xrb.govt.nz.

Copies of this standard may be inspected free of charge at the offices of the External Reporting Board (XRB), Level 6, 154 Featherston Street, Wellington. Copies are also available on the XRB’s website at www.xrb.govt.nz.

Dated this 19th day of June 2026.

JOHN KENSINGTON, Chair, External Reporting Board.