Financial reporting
Standards and resources
to support you

Financial reporting

Preparing accurate and timely financial reports is essential for any business. We provide our members with the most up-to-date information on financial reporting standards and the standard setting process.

New Zealand Financial Reporting Quiz

The New Zealand Financial Reporting framework has changed significantly over the past few years. We have developed a short, fun, educational quiz to help you test your knowledge of the framework. Try the quiz today!

We have developed a range of resources to assist members to understand the new financial reporting landscape including a Financial Reporting and Assurance Tool to help navigate the new preparation, audit and distribution obligations, and an optional Special Purpose Financial Reporting Package (which includes illustrative financial statements). 

You may also be keen to have your say on future Financial Reporting changes, by completing our Future of Financial Reporting survey: http://www.charteredaccountants.com.au/futureinc/Multimedia/Future-of-Financial-Reporting-Survey

Standards and guidance

Access the financial reporting standards applicable to New Zealand entities.

Changes to Financial Reporting

The FRA 2013 & new Accounting Standards Framework means changes to financial reporting for many entities.

NZICA Optional Special Purpose Financial Reporting Framework for SMEs

For for-profit entities not required to prepare general purpose financial reports.

Financial Reporting and Assurance Tool

To help you navigate through the recent changes to the financial reporting legislation and framework.

Reporting Essentials for December 2015

We have published our inaugural edition of New Zealand Reporting Essentials. This publication aims to assist financial statement preparers, auditors and those charged with governance to understand the key accounting and regulatory developments and their impact on financial reports. It highlights key areas to consider for the upcoming reporting season, including:

  • Newly effective requirements in the For-Profit Framework
  • Accounting standards issued but not yet effective in the For-Profit Framework
  • Revocation of the temporary tier in the For-Profit Framework
  • Operationalisation of the Public Benefit Entity Framework
  • New reporting requirement for Registered Charities
  • Directors’ responsibilities for financial reports

The publication also notes that activities to combat disclosure overload are gaining momentum and encourages boards and finance teams to take steps to combat disclosure overload now.