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NZ IFRS RDR 2015 Illustrative Financial Statements

Illustrative NZ IFRS consolidated financial statements for December 2015 year ends including Reduced Disclosure Regime concessions

With the revocation of Diff Rep and Old GAAP, many entities which still have statutory reporting responsibilities are now switching to the reduced disclosure regime. This presents an ideal opportunity for entities to consider more meaningful ways to present their financial statements. Our illustrative NZ IFRS RDR 2015 financial statements illustrate some approaches to streamlining financial statements. It will also help you identify any additional disclosures that will be required if you are transitioning in the current period.

This edition is modelled on our global IFRS 2015 publication and shows - using shading - the disclosures that can be removed if an entity is reporting under tier 2.

Whether you are already reporting under NZ IFRS RDR or you are planning to transition to NZ IFRS RDR, we hope you find this publication useful.

New format - structure and materiality

Regulators locally and globally are supporting the move towards more streamlined reports as they help investors see a company’s “bigger picture” allowing more informed decisions about where to invest. The IASB currently has disclosure reform on its agenda, as does the SEC and FASB in the US. Our NZ IFRS RDR Limited publication has been restructured to demonstrate what companies can do to tell their story more effectively.

However, the structure used is only intended to provide you with possible ideas. There’s no “one size fits all” approach so companies should engage with the stakeholders who use their financial reports to determine what’s most relevant to them.

New content

The main new element included in this edition is Appendix C which illustrates disclosures for agricultural entities, construction contracts, and oil and gas exploration assets. The only significant mandatory disclosure change relevant for NZ IFRS RDR Limited arose from the 2010-2012 annual improvements cycle, which required additional disclosures about the aggregation of segments.


Please Contact
Lyn Hunt

Lyn Hunt

Partner, Accounting Consulting Services | Auckland

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Partner, Accounting Consulting Services | Auckland
Tel: +64 9 355 8863
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Michele Embling

Michele Embling

National Assurance Leader

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National Assurance Leader
Tel: +64 9 355 8543
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Stephen Hogg

Stephen Hogg

Director, Accounting Consulting Services | Auckland

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Director, Accounting Consulting Services | Auckland
Tel: +64 9 355 8234
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