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When business change happens - an acquisition, the adoption of a new accounting standard, a regulatory review or restatement, to name a few - an organisation will often find itself facing an array of complex, time-sensitive accounting issues, each of which could have a significant impact on its financials and operations.
New Zealand’s new financial reporting framework may add to the challenge. This accounting standards framework takes a multi-sector approach, with separate suites of standards applying to for-profit entities and to public benefit entities. This also means that entities that are part of ‘mixed groups’ (groups where for example there is a Public Benefit Entity (PBE) parent with a for-profit subsidiary) will need to keep track of the differences between these suites of standards for the purposes of group reporting.
In order to successfully report in New Zealand, entities need to have a sound grasp of the relevant financial reporting standards and an understanding of the upcoming financial reporting developments that are likely to impact their business.
The ACS team in New Zealand consists of International Financial Reporting Standards and PBE Accounting Standards specialists who are skilled in ensuring the consistent interpretation of accounting standards through:
The ACS team in New Zealand is part of a global group of PwC accounting advisory professionals. This group has deep knowledge of the emerging accounting rules and regulatory climate in virtually any country in which you might do business and extensive experience with clients in many industries and sectors.
Please contact us and learn more about how we can help your accounting function.
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