Notice Type
Authorities/Other Agencies of State
Notice Title

Issued Accounting Standard: Annual Improvements to NZ IFRS 2018–2020 (Notice No. 169)

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 Annual Improvements to NZ IFRS 2018–2020 which amends NZ IFRS 1 First-time Adoption of International Financial Reporting Standards, NZ IFRS 9 Financial Instruments and NZ IAS 41 Agriculture.

Annual Improvements to NZ IFRS 2018–2020:

  • applies to all Tier 1 and Tier 2 for-profit 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 annual periods beginning on or after 1 January 2022, with early application permitted; 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

Dated this 25th day of June 2020.

KIMBERLEY CROOK, Chair, New Zealand Accounting Standards Board.