Financial reporting updates

Brett Story, Associate Director, Audit New Zealand, provides a financial reporting update for public benefit entities and for-profit entities.

Public benefit entities

This update provides an overview of the differences arising from new group standards, PBE IPSAS 35 to 38. The presentation also covers:

  • the transition timeframes for the revised financial instrument standards PBE IFRS 9 and PBE IPSAS 41;
  • the International Public Sector Accounting Standards Board’s exposure drafts on revenue and expenses ED70-72; and
  • how the new for-profit leases standard, NZ IFRS 16, may result in consolidation adjustments.

Transcript for this video | Presentation (PDF, 757kB, 16 pages)

For-profit entities

This update focuses on providing an overview of the new leasing standard NZ IFRS 16 Leases. The presentation provides an overview of the new lessee accounting model and matters to be aware of when transitioning to the new standard.

Transcript for this video | Presentation (PDF, 872kB, 17 pages)

Brett StoryBrett Story is an Associate Director in Audit New Zealand's Accounting Technical Team. Brett is also the principal author of our Model Financial Statements and the project manager of the Office’s transition to the New Accounting Standards Framework project.

Page created: 16 July 2020