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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:

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