Financial reporting resources for public benefit entities
New Zealand has a multi-standards accounting framework which applies when financial statements are required to be prepared under legislation. Standards for for-profit entities are based on International Financial Reporting Standards (IFRSs) and standards for public benefit entities (PBEs) are based on International Public Sector Accounting Standards (IPSASs). The PBE standards are divided into two sectors – public benefit entities in the public sector and not-for-profit public benefit entities. Within each sector are four tiers of standards which could apply based on an entity’s size and whether it has public accountability.
The following documents have been prepared to assist you in understanding the legislative framework and accounting standards applicable to public benefit entities:
The New Zealand financial reporting landscape – June 2024
Connecting you to New Zealand’s legislative environment and related financial reporting requirements
Accounting Alert
Quarterly update – Public Benefit Entities - What’s new in financial reporting?
PBE Standards Disclosure Checklist (Tier 1 and 2 entities) – December 2024
Keeping up to date with the various presentation and disclosure requirements of the Public Benefit Entity Accounting Standards (PBE Standards) is, and will continue to be, a challenge. With that in mind, this checklist has been designed by Deloitte to assist clients, partners and staff with the preparation of annual financial statements.
This checklist can be used by Tier 1 and Tier 2 PBEs to identify the required PBE Standards and PBE Standards RDR disclosures for a 31 December 2024 balance date.
