IFRS 19 – Update for Tier 2 For-Profit Entities
IFRS 19 – Update for Tier 2 For-Profit Entities
Following on from our May 2024 article, the External Reporting Board (XRB) have announced that they have decided not to adopt IFRS 19 Subsidiaries without Public Accountability: Disclosures in New Zealand.
Instead, the XRB will consider the disclosure requirements in IFRS 19 as part of its decision-making on future RDR concessions contained in the New Zealand equivalents to International Financial Reporting Standards Reduced Disclosure Regime (NZ IFRS RDR) standards.
As a result, Tier 2 entities will not have to make any changes to current reporting as a consequence of IFRS 19.
Please refer to the XRB’s update for more information.
For more on the above, please contact your local BDO representative.
Instead, the XRB will consider the disclosure requirements in IFRS 19 as part of its decision-making on future RDR concessions contained in the New Zealand equivalents to International Financial Reporting Standards Reduced Disclosure Regime (NZ IFRS RDR) standards.
As a result, Tier 2 entities will not have to make any changes to current reporting as a consequence of IFRS 19.
Please refer to the XRB’s update for more information.
For more on the above, please contact your local BDO representative.