International Financial Reporting Standards
Ernst & Young provides up-to-date knowledge, insights and timely advice to help you deal with the widespread implications of IFRS. Our business-based approach helps you to manage both financial accounting and reporting issues and understand where and how IFRS affects your decision making.
Our service is informed by the insights of a worldwide network constantly working on IFRS-related issues, and the seasoned experience of our local team.
Global IFRS resources
Please see our Global IFRS site for extensive international resources, thought leadership and web based learning modules.
New Zealand IFRS insights
Stay on top of the latest financial reporting issues. See the latest edition of Eye on Reporting for accounting updates, IFRS media coverage and highlights of upcoming developments.
Recent New Zealand publications
Taking Shape (pdf, 618.9kb)
On 31 July 2012, the Financial Reporting Bill (the Bill) was introduced into Parliament. The Bill reflects the Government’s proposed changes to the statutory financial reporting framework concerning which entities are required to prepare General Purpose Financial Reports (GPFR), along with related audit and filing requirements. If passed, the bill will replace the Financial Reporting Act 1993 and cause consequential amendments to many other Acts.
Alternative performance measures (pdf, 409kb)
The Financial Markets Authority (FMA) has issued a guidance note on disclosing alternative performance measures and other types of "non-GAAP" financial information, such as underlying profits, EBIT and EBITDA. The guidance note sets out the FMA's views on disclosing non-GAAP financial information, including what other information also should be disclosed, so that the information is not misleading.
A new set of accounting standards for public benefit entities (pdf, 703.1kb)
In 2011, the External Reporting Board (XRB) decided to move away from a single set of accounting standards for all entities to a sector-specific standards approach.
Under this approach, there would be separate and, in some cases, different requirements for public benefit entities (PBEs).
A new wave for New Zealand - Accounting for the New Zealand Emissions Trading Scheme (pdf, 1.9mb)
As part of New Zealand’s response to global climate change and its obligations under the Kyoto Protocol, the New Zealand Government has introduced the New Zealand Emissions Trading Scheme (ETS).
In this publication, we discuss some of the accounting issues arising from the ETS. We also briefly discuss the potential tax implications.