Notice Type
Authorities/Other Agencies of State
Notice Title

Issued Accounting Standard: 2020 Amendments to PBE FRS 48 (Notice No. 175)

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 2020 Amendments to PBE FRS 48.

2020 Amendments to PBE FRS 48:

  • applies to all Tier 1 and Tier 2 public benefit reporting entities and groups, other than where expressly exempted by its terms, the terms of any other approved accounting standard or bylaw;
  • applies to annual financial reports covering periods beginning on or after 1 January 2021, 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 20th day of August 2020.

MICHAEL BRADBURY, Acting Chair, New Zealand Accounting Standards Board.