Spotlight on reporting provides monthly insights on financial reporting from around the global PwC network and from our specialists in Aotearoa New Zealand
Mā te whakaatu i ngā kōrero ā mārama mō ngā ripoata pūtea o te ao mai i PwC me a mātau tohunga ki Aotearoa nei e mārama ai koe.
December 2024 year end accounting reminders - IFRS
Our global publication outlines topical issues which may be relevant for entities with a December year-end.
In brief: Understanding the impact of the recent July 2024 IFRIC agenda decision on segment reporting
The IASB agreed to publish the IFRS Interpretations Committee's agenda decision clarifying certain requirements for segment disclosures. As a result, many entities might need to increase the amount of information provided in their segment disclosures. Entities should start considering immediately whether changes are needed to their segment disclosures in the 31 December financial statements.
IFRS talks about...reduced disclosures for eligible subsidiaries and IFRIC Update
Listen as our experts talk about the new accounting standard - IFRS 19 'Subsidiaries without Public Accountability: Disclosures' and provide an IFRIC update including discussions on hyperinflationary economies and the accounting for R&D expenditure relating to climate-commitments.
XRB: 2024 Omnibus Amendments to PBE Standards
The amendments to PBE IPSAS 1 clarify the principles for classifying a liability as current or non-current. The amendments to PBE IAS 12 provide temporary relief from accounting for deferred taxes arising from the Organisation for Economic Co-operation and Development’s (OECD’s) international tax reform (Pillar Two Model Rules).
XRB: IFRS 18 Insights with IASB Vice-Chair Linda Mezon-Hutter
In case you missed it, the XRB recently hosted Linda Mezon-Hutter (IASB Vice-Chair) for a panel discussion on IFRS 18.
In brief: Sustainability-related risks and opportunities and the disclosure of material information
On 19 November 2024, the ISSB published educational material which provides guidance on identifying sustainability-related risks and opportunities, making judgements about the materiality of information and how an entity identifies and discloses material information.
Sustainability reporting adoption tracker
Stakeholders, particularly investors, are demanding consistent and comparable disclosures on sustainability information. Our tracker provides an overview of the local regulatory or legal sustainability reporting requirements by individual territory. It helps to bring clarity to the complex sustainability reporting landscape.
Climate-related Disclosures: Insights from the FMA
This report provides key insights from the FMA’s review of 70 climate statements prepared for reporting periods ended 31 December 2023, 31 January 2024 and 31 March 2024.
The purpose of this report is to provide useful feedback for climate reporting entities to improve the disclosures in their climate statements.
XRB: 2024 Climate and Assurance Proposals announced
The XRB approved three of the four proposals relating to amendments to climate and assurance standards. The amending standards will have an application date of
1 January 2024, meaning they are applicable for accounting periods that begin on or after this date.
Contact us
If you wish to discuss these or any other GAAP related matters, please contact your usual PwC adviser or one of the following financial reporting specialists:
Ki te hiahia koe ki te kōrero mō ēnei kaupapa, ki ētahi atu kaupapa rānei e pā ana ki te GAAP, tēnā koa waea atu ki to kaitohutohu PwC, tētahi rānei o ngā kaitohutohu pūrongo putea e whai ake nei:
Sara Moonlight
