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 2017 Omnibus Amendments to NZ IFRS.
2017 Omnibus Amendments to NZ IFRS:
- applies to all Tier 1 and Tier 2 for-profit entities and groups, other than where expressly exempted by its terms, the terms of any other approved accounting standard or by law; and
- applies to annual reporting periods beginning on or after 1 January 2018, except for the amendments to NZIFRS 10 Consolidated Financial Statements and NZ IAS 28 Accounting for Investments in Associates and Joint Ventures. Those amendments apply to annual periods beginning on or after 1 January 2019. Earlier application is permitted for all parts of the Standard; and
- 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 9th day of November 2017.
KIMBERLEY CROOK, Chair, New Zealand Accounting Standards Board.