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 Authoritative Notice Public Benefit Entities' Framework (PBE Framework).
The PBE Framework:
- applies to Tier 1, Tier 2 and Tier 3 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 public benefit reporting entities for annual periods beginning on or after 1 April 2015, with early application permitted for not-for-profit public benefit entities as long as all the PBE Standards are applied at the same time; and
- is a disallowable instrument for the purposes of the Legislation Act 2012.
Copies of the PBE Framework 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 11th day of September 2014.
KIMBERLEY CROOK, Chair, New Zealand Accounting Standards Board.