✨ Financial Reporting Standards
29 FEBRUARY 2012 NEW ZEALAND GAZETTE, No. 25 707
Standards approved but not yet effective
| Standard/Interpretation | Effective for annual reporting periods beginning on or after | Expected to be initially applied in the financial year ending |
|---|---|---|
| Amendments to IAS 24 ‘Related Party Disclosures’ | 1 January 2011 | 30 June 2012 |
| NZ IFRS 9 Financial Instruments | 1 January 2013 | 30 June 2014 |
| Revised NZ IFRS 9 Financial Instruments* |
Improvements to New Zealand Equivalents International Financial Reporting Standards 2010
- Improvements to NZ IFRS 7, NZ IAS 1, NZ IAS 34 and NZ IFRIC 13 | 1 January 2011 | 30 June 2012 |
| Amendments to NZ IAS 26 ‘Accounting and Reporting by Retirement Benefit Plans’ | 1 April 2011 | 30 June 2012 |
| Amendments to NZ IFRS 7 ‘Financial Instruments: Disclosures’ | 1 July 2011 | 30 June 2012 |
| Amendments to NZ IAS 12 ‘Income Taxes’ - Deferred Tax: Recovery of Underlying Assets | 1 January 2012 | 30 June 2013 |
| Amendments to NZ IFRS 7 – Appendix E | 1 April 2011 | 30 June 2012 |
| NZ IFRS 10 ‘Consolidated Financial Statements’ | 1 January 2013 | 30 June 2014 |
| NZ IFRS 13 ‘Fair Value Measurement’ | 1 January 2013 | 30 June 2014 |
| Amendments to New Zealand Equivalents to International Financial Reporting Standards to Harmonise with International Financial Reporting Standards and Australian Accounting Standards | 1 July 2011 | 30 June 2012 |
| Amendments to NZ IAS 1 ‘Presentation of Financial Statements’ – Presentation of Items of Other Comprehensive Income | 1 July 2012 | 30 June 2013 |
| Amendments to NZ IAS 19 ‘Employee Benefits’ | 1 January 2013 | 30 June 2014 |
*the revised NZ IFRS 9 adds guidance on the classification and measurement of financial liabilities and derecognition of financial instruments. The effective date remains the same as the previous version of NZ IFRS 9, with earlier adoption permitted.
Management has not yet fully assessed the impact of these changes.
All other standards and interpretations approved but not yet effective that are not included above are not relevant to the Division.
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NZ Gazette 2012, No 25
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Standards approved but not yet effective
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