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Securities Commission seeks comment on a practice

20 20 April 2004

Financial Information In Offer Documents Before International Accounting Standards Are Adopted

Securities Commission seeks comment on a practice note

The Securities Commission today released a draft practice note about the application of accounting standards in offer documents.

Certain New Zealand companies must adopt international financial reporting standards (NZ IFRS) from January 2007. Some companies may choose to do so from January 2005.

This change raises questions about how prospective financial information should be presented in prospectuses for offers of securities in the time immediately before the new standards are adopted.

The Securities Commission has issued a request for comment on the draft practice note about how accounting standards should be applied to financial information in offer documents, in the period leading up to the adoption of NZ IFRS.

The request for comment and the draft practice note are available from: Comments should be sent to Lisa Muollo ( by 11 May 2004.


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