NZ Equivalents to International Financial Reporting Standards
The change to New Zealand Equivalents to International Financial Reporting Standards (NZ IFRS) represented the most significant shift in financial reporting in New Zealand for more than a generation. Its implications reached far beyond technical accounting, and many companies have found that their entire business practices are impacted.
Issues including financial instruments (such as hedging), pensions and tax, mean that companies must understand how the new standards affect them, and the wider industry sector in which they sit.
Conversion to NZ IFRS is not, however, the end of the story. The continued need to embed NZ IFRS reporting across wider systems and processes mean that companies must continually adapt their finance function to meet the NZ IFRS challenge and achieve long-term efficiency.
PwC NZ IFRS specialists have extensive expertise in understanding the implications and processes of NZ IFRS, they are able to assist at both the conversation stage and in the crucial embedding period that follows. We help clients to navigate their way through each stage of the process.
PwC brings you the benefit of thorough experience with NZ IFRS, the knowledge of our global network of change management experts and NZ IFRS specialists, and an integrated suite of solutions to ease you through the change process. Our regular publications will keep you up to date on the latest developments in New Zealand and internationally.