This site uses cookies to provide you with a more responsive and personalised service. By using this site you agree to our use of cookies. Please read our cookie notice for more information on the cookies we use and how to delete or block them.

Bookmark Email Print page

Accounting Alert Archive

Browse previous issues of Accounting Alert

Accounting AlertAccounting Alerts keep you up to date with the latest developments in Financial Reporting. The alert is compiled by our National Technical Team who are continually monitoring changes to New Zealand financial reporting requirements and developments in International Financial Reporting Standards (IFRS), including exposure drafts and discussion papers issued by the IASB and the New Zealand External Reporting Board (XRB).
2014
Accounting Alert - Quarterly Update
What's new in financial reporting for March 2014

Accounting Alert - January 2014

International framework for integrated reporting finalised

The International Integrated Reporting Council (IIRC) has released its ‘International Integrated Reporting <IR> Framework’ (<IR> Framework). The <IR> Framework seeks to explain the fundamental concepts, principles and content requirements underlying an 'integrated report', which is considered the next step in the evolution of corporate reporting.

2013
Accounting Alert - January 2014
What's new in financial reporting for January 2014?
2013
Accounting Alert - December 2013
Financial Reporting Act 2013 enacted providing clarity on the financial reporting obligations of New Zealand entities

Accounting Alert - Quarterly Update
What's new in financial reporting for December 2013?

Accounting Alert - November 2013
Hedge accounting reforms

The International Accounting Standards Board (IASB) has published an amendment to IFRS 9: Financial Instruments incorporating its new general hedge accounting model.
Accounting Alert - Quarterly Update September 2013

What's new in financial reporting for September 2013?

Accounting Alert - August 2013
The International Auditing and Assurance Standards Board (IAASB) recently released an exposure draft entitled Reporting on Audited Financial Statements: Proposed New and Revised International Standards on Auditing (ISAs), which proposes significant changes to audit reports.

Accounting Alert update - July 2013
Changes to New Zealand’s financial reporting framework are being made from two angles:

  • the Government has proposed changes to legislation which specifies which entities are required to prepare financial statements in accordance with generally accepted accounting practice (GAAP), and whether such financial statements need to be audited or filed, and
  • the External Reporting Board (XRB) is determining which standards apply for entities required to prepare financial statements in accordance with GAAP.
Accounting Alert - July 2013
The International Accounting Standards Board (IASB) has published for comment ED/2013/7 Insurance Contracts, a revised Exposure Draft of proposals for the accounting for Insurance Contracts.The revised ED confirms the key features of the model exposed in 2010 – requiring a single accounting model for all insurance contracts to be applied at a portfolio level using a current fulfilment value approach that requires an explicit current measurement of expected cash flows and a liability for risk and uncertainty (‘building blocks’). This model prohibits the recognition of profit at initial recognition of an insurance contract.
Accounting Alert - Quarterly Update June 2013
What's new in financial reporting for June 2013?
Accounting Alert - May 2013
The International Accounting Standards Board (IASB) has re-exposed its proposed approach for the recognition and measurement of leases as ED/2013/6 Leases. This exposure draft addresses some of the concerns raised in submissions on the 2010 exposure draft, particularly around the profile of recognition in the income statement and the complex judgements the 2010 ED included around lease term and variable lease payments. Given the significance of changes to the proposals, the IASB has decided to re-expose the lease accounting proposals for comment.
Accounting Alert - Quarterly Update March 2013
What's new in financial reporting for December March 2013?

Accounting Alert Special Update - March 2013

The International Accounting Standards Board (IASB) published its long-awaited proposal for a new accounting model for impairments of financial assets. The Exposure Draft ED/2013/3 Financial Instruments: Expected Credit Losses contains a revised approach from previous proposals.
Accounting Alert - March 2013
In this issue: Financial Reporting Framework – Simple format reporting; Investment entities amendments (update); IASB defers key projects; Proposed changes to impairment disclosures; Proposed scope amendment for IFRS 11: Joint Arrangements; Proposed clarification on when unrealised profits are eliminated when using equity accounting; Proposed clarification regarding depreciation and amortisation methods; Proposed changes to financial instruments standards; IFRS 13: Fair value measurement guidance
2012
Accounting Alert - Quarterly Update December 2012
What's new in financial reporting for December 2012?
Accounting Alert - November 2012
In this issue: Financial Reporting Framework - For-profit standards issued; Investment entities amendments; Exposure draft on the Equity Method: Share of Other Net Asset Changes; Exposure draft: Annual Improvements to IFRSs: 2011 – 2013 Cycle; IPSASB Conceptual Framework Exposure Drafts; FMA Consultation Paper: Issuer exemptions from licensed auditor requirement
Accounting Alert - 29 October 2012
In this issue: On track for a revised exposure draft on leases
Accounting Alert - October 2012
In this issue: More opportunities for hedge accounting proposed
September 2012 Accounting Alert (Quarterly Update)
What's new in financial reporting for September 2012?
September 2012 Accounting Alert
In this issue: Financial Reporting Bill proposes changes to financial reporting requirements; Final guidance note issued by the FMA on non-GAAP financial information; New Publication – IFRS in Your Pocket 2012
July 2012 Accounting Alert
In this issue: XRB issues exposure drafts setting out the proposed accounting standards for public benefit entities in the public sector; FMA guidance; New publications; Other topics of interest
June 2012 Accounting Alert (Quarterly Update)
What's new in financial reporting for June 2012?
May 2012 Accounting Alert
In this issue: Minister of Commerce approves the External Reporting Board’s proposals for the New Zealand Accounting Standards Framework; XRB Issues the First Exposure Drafts to Operationalise the New Accounting Standards Framework; ED Annual Improvements to IFRSs 2010 – 2012 Cycle; Other Topics of Interest
March 2012 Accounting Alert (Quarterly Update)
What's new in financial reporting for March 2012?
 

2011

December 2011 Accounting Alert (Quarterly Update)
What's new in financial reporting for December 2011?
December 2011 Accounting Alert
In this issue: IASB re-exposes the revenue recognition exposure draft; FMA signals restrictions on the use of alternative profit measures; New standards and current exposure drafts; IPSASB issues standard on service concession arrangements for grantors
September 2011 Accounting Alert  (Special Update)
In this issue: Government’s refocus on financial reporting welcome
September 2011 Accounting Alert (Quarterly Update)
What's new in financial reporting for September 2011?
August 2011 Accounting Alert
In this issue: External Reporting Board (XRB) takes over New Zealand standard setting; Increased transparency of interests in other entities – Five new / amended standards issued; IASB proposes to defer the mandatory date of IFRS 9; New IFRS on fair value measurement and disclosure requirements; IASB plans to re-expose revenue recognition and lease accounting proposals; Amendments to standards issued; Current Exposure Drafts; Call to cut financial statement disclosures by 30%
June 2011 Accounting Alert  (Quarterly Update)
What's new in financial reporting for June 2011?
March 2011 Special Accounting Alert
In this issue: Christchurch earthquake: Financial reporting considerations; Potential impairment of assets; Treatment of compensation; Onerous lease provisions; Loan covenants; Guarantees; Is the earthquake an adjustable event? Going concern; Loss of accounting records; Taxation; Closing word – transparency
March 2011 Accounting Alert (Quarterly Update)
What's new in financial reporting for March 2011?
January 2011 Accounting Alert
In this issue: Relief for some entities affected by Budget 2010 in relation to loss of tax depreciation on buildings; Changes to financial instruments ongoing; IFRS Practice Statement on Management Commentary; Securities Commission – Review of Financial Reporting by Issuers (Cycle 12)

2010

December 2010 Accounting Alert  (Quarterly update)
What's new in financial reporting for December 2010?
September 2010 Accounting Alert  (Quarterly update)
What's new in financial reporting for September 2010?
August 2010 Accounting Alert
In this issue: Major overhaul proposed for: lease accounting, revenue recognition, insurance contracts; Possible relief for entities affected by the Budget 2010 removal of tax depreciation on buildings
June 2010 Accounting Alert (Quarterly Update)
What's new in financial reporting for June 2010?
June 2010 Accounting Alert (Special Update)
New requirements comprising ‘the next wave of IFRS’, and their applicability to annual and interim reports at June 2010:
April 2010 Accounting Alert
Audit requirements removed for some entities with foreign ownership: which entities are affected by the law change when the law change applies; when an audit should be considered if not otherwise required;Action points required to take advantage of the change.
March 2010 Accounting Alert (Quarterly update)
What's new in financial reporting for March 2010?
February 2010 Accounting Alert (Special update)
In this issue: Exposure Draft Measurement of Liabilities in IAS 37; Proposed Amendments to NZ IAS 26 for Retirement Benefit Plans; Securities Commission Cycle 10 Results; Other Topics of Interest

2009

December 2009 (Quarterly update)
November 2009 (Special update)
October 2009 (Special Alert)
September 2009 (Quarterly update) 
September 2009 (Special update)
July 2009 Accounting Alert
June 2009 (Quarterly update)
June 2009 Accounting Alert
May 2009 Accounting Alert
February 2009 Accounting Alert


Page Last Updated

Stay connected:
Get connected
Share your comments

 

More on Deloitte
Learn about our site