Date posted: 10/10/2019 2 min read

The XRB seeks feedback on its strategy for developing accounting standards

The Targeted Review of the New Zealand Accounting Standards Framework

In brief

  • Now that the accounting standards framework has been effective for 4-5 years for many entities, the XRB considers it timely and important to “check-in” with stakeholders
  • The XRB needs your feedback – the submission period closes on 15 November 2019
  • Feedback will assist the XRB in considering whether refinements to the accounting standards framework are required

The External Reporting Board (XRB) issued the Discussion Paper: Targeted Review of the New Zealand Accounting Standards Framework for public consultation in July 2019. 

Your feedback on this Discussion Paper (DP) is important. It will help the XRB refine its strategy for setting accounting standards for public sector entities, registered charities and other not-for-profit (NFP) entities, and companies and other for-profit entities.

In this article, the XRB explains what the targeted review is all about, and why your feedback is so important.