Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search


International Financial Reporting Standards

21 December 2004

Transition to International Financial Reporting Standards

The Securities Commission is seeking public comment on a draft practice note about the presentation of historical financial information in offer documents during the transition to international standards.

Certain New Zealand companies must adopt New Zealand equivalents to International Financial Reporting Standards (NZ IFRS) from January 2007. Some companies may choose to do so from January 2005.

Securities Commission Draft Practice Note No 3/2004 covers the situation when companies adopt NZ IFRS for the first time. This will affect the presentation and disclosure of summary historical financial information in prospectuses for offers of securities.

The draft practice note sets out the approach the Commission intends to take in relation to offer documents during the transition period, in order to ensure an appropriate level of information is provided to investors.

The draft practice note is available from the Commission’s website:

Comments should be sent to Lisa Economou ( by 16 February 2005.


© Scoop Media

Business Headlines | Sci-Tech Headlines


ScoopPro: Helping PR Professionals Get More Out Of Scoop has been a fixture of New Zealand’s news and Public Relations infrastructure for over 18 years. However, without the financial assistance of those using Scoop in a professional context in key sectors such as Public Relations and media, Scoop will not be able to continue this service... More>>

Insurance: 2017 Worst Year On Record For Weather-Related Losses

The Insurance Council of New Zealand (ICNZ) announced today that 2017 has been the most expensive year on record for weather-related losses, with a total insured-losses value of more than $242 million. More>>


Crown Accounts: Govt Books In Line With Forecasts

The Government’s financial statements for the four months to 31 October indicate the books are tracking along with Treasury’s Budget forecasts, Finance Minister Grant Robertson says. More>>


Expert Reaction: Ross Sea Region Marine Protected Area In Force

Sweeping new protections for Antarctica's Ross Sea will come into effect on Friday 1 December. After five years of debate, the marine protected area (MPA) was agreed in 2016 after a joint proposal by New Zealand and the United States... More>>