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This section provides an overview of the latest publications, commentary and guides covering NZ IFRS and other financial reporting news.
This publication provides an illustrative set of consolidated financial statements for entities reporting under New Zealand equivalents to International Financial Reporting Standards – Reduced Disclosure Regime (NZ IFRS RDR).
In our PBE News publication we highlight the key New Zealand and international developments relevant to public benefit entities.
The new IFRS standard for insurance contract accounting (expected to be IFRS 17) is nearing completion. Many insurers in New Zealand have yet to consider how IFRS 17 may impact their business, what options they may choose or start developing an implementation plan. However, plans underway at larger insurers overseas have identified key areas of challenge and emphasise the amount of effort required. Our latest publication highlights some of the financial and operational implications for New Zealand insurers.
This publication incorporates a full disclosure checklist for all disclosure requirements under Tier 1 and Tier 2 PBE accounting standards. The checklist is applicable for periods beginning on or after 1 April 2015.
PwC has conducted a series of surveys of professional investors aimed at maximising the effectiveness of corporate reporting. In our third and final instalment, we look at the ways to build value for professional investors through the use of integrated reporting.
In our second report in a series covering professional investors' views on corporate reporting, we found that they don’t all agree on how companies should lay out their financial statements, but it’s worth experimenting to find the best approach.
With the new IFRS insurance contract standard moving towards finalisation, now is the time to begin preparing implementation plans. How will the new IFRS affect valuations, reported earnings and investor relations? "Ready or not, here it comes?" provides an update on the status of the IASB re-deliberations on the new insurance contracts standard and summarises where to from here.
In our PBE In brief publications we highlight key features of the proposed and new Public Benefit Entity standards.
See In brief for for-profit entities accounting standards updates.
We've created the Streamlined Annual Financial Report to demonstrate some simple ideas that companies could apply to make their reports less complex and more accessible. The report also highlights areas where the existing accounting regime prevents companies from taking what could be a more effective approach.
PwC has conducted a series of surveys of investment professionals aimed at maximising the effectiveness of corporate reporting. In our first report 'Corporate performance: What do investors want to know?' we address the disclosure of adjusted performance measures.
In brief is a periodic journal that highlights the impact of current accounting issues arising in New Zealand for for‑profit entities, new standards and amendments issued by the XRB and practical guidance on how to deal with them.
See PBE In brief for public sector and private not-for-profit updates.
This publication outlines some key considerations in relation to the conversion for public sector PBEs and provides a high level comparison between the current NZ IFRS standards for PBEs and the new PBE Standards. We hope you will find our insights useful as you tackle the challenge of switching to the new PBE Standards.
IFRS news highlights the latest developments at the IASB. We provide practical guidance on how new standards/interpretations or changes to existing requirements will affect your company. Typical content includes:
IFRS quarterly updates outline the IFRS reporting requirements for a particular year-end. They highlight the topical issues to consider (including new issues added since previous versions); the standards that apply at this date; the standards that are published but effective at later dates and so need to be disclosed.
PwC's ‘In brief’ global series provides you with short summaries on developments in IFRS.
Our 'Practical guides to IFRS' series updates you on the guidance in recently released discussion papers, exposure drafts and final standards from the IASB.
This publication includes up-to-date information on IPSAS issued by the IPSASB up to 31 March 2015. While PBE Accounting Standards are substantially based on IPSAS, domestic PBE standards specify additional requirements where there is a gap in the underlying suite of IPSASs. Despite these differences, this handbook is a useful guide to develop your understanding of the principles of IPSASs that form the basis of PBE Standards.
PwC has a number of publications comparing local GAAP with IFRS. See the list of titles in our 'similarities and differences' series.
PwC Global survey on accounting and reporting by central governments, 2nd edition
The global financial crisis and the subsequent sovereign debt crisis have brought to light that the lack of transparency in public finances and poor public finance management may put at risk governments’ ability to service large public debts and meet their welfare commitments and other public service delivery objectives.
The second edition of the PwC global survey analyses key aspects of government accounting and financial reporting around four themes:
It also compares the results with the findings of the first edition of our survey in 2013.
- Governance and corporate responsibility
- Financial assurance
- Transaction services and due diligence
- IPOs and company stock exchange listings