Policy Statements

Policy for dealing with audit reports

In September 2016, we issued a policy setting out the processes the XRB Board and our sub-Boards — the NZASB and the NZAuASB — will follow when auditors send us reports under the Companies Act 1993 and the Financial Markets Conduct Act 2013.

The policy also applies when we receive audit reports from any other party.

Policy for developing PBE Standards

In September 2013 we issued our Policy Approach to Developing PBE Standards.

Although published separately, the Policy Approach can be considered as an addition to the Accounting Standards Framework. It gives more details on the approach outlined in paragraphs 149 to 151 of the Framework.

The Policy Approach is based on a “development principle” and a series of “rebuttable presumptions”, which the NZASB will use to determine if and when to make changes to the suite of PBE standards.