Notice is hereby given, pursuant to section 24 of the Financial Reporting Act 2013, that the External Reporting Board has issued Authoritative Notice Conceptual Framework for Financial Reporting (PBE).
The Conceptual Framework for Financial Reporting (PBE):
- applies to all 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 all public benefit reporting entities for
annual periods beginning on or after 1 April 2014 to reporting periods beginning on or before 30 June 2014;
- takes effect from the date of the notification of its issue in the New Zealand Gazette pursuant to sections 27(2)(a) and (b) of the Financial Reporting Act 2013; and
- is a disallowable instrument for the purposes of the Legislation Act 2012.
Copies of the Conceptual Framework for Financial Reporting (PBE) 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
www.xrb.govt.nz
Dated this 14th day of March 2014.
MICHELE EMBLING, Chair, New Zealand Accounting Standards Board.