Gordon Campbell | Parliament TV | Parliament Today | Video | Questions Of the Day | Search

 


Listen to the professionals, Minister

Craig Foss MP
National Party Associate Finance Spokesman
15 September 2006

Listen to the professionals, Minister

Commerce Minister Lianne Dalziel is out of line to ignore the advice of experts from the Accounting Standards Review Board on proposed changes to financial reporting standards, says National’s Associate Finance spokesman Craig Foss.

Mr Foss is commenting on the board’s submission to Parliament’s Commerce Select Committee opposing sections of the Business Law Reform Bill that give the board powers to ‘grant exemptions to entities from complying with approved financial reporting standards’.

The board says: ‘We are concerned that granting individual entities exemptions from the requirement to comply with specific standards will seriously undermine…and could well lead to a customized and incoherent set of accounting standards.’

“What could be clearer than that?” says Mr Foss.

“In meetings with the Minister this advice was rejected.

“What does the Minister know that the cumulative experience and collective wisdom of Accounting Standards Review Board does not?

“As New Zealand moves towards adopting the International Financial Reporting Standards, why on earth is the Minister deliberately diluting the very standards the board is charged with maintaining?

“At the select committee hearings, board chairman Warwick Hunt and fellow board member John Spencer were at a total loss to explain why the Minister refused to listen to their advice.

“This is absurd. An Independent Crown Entity is in major dispute with the Crown. The Minister needs to explain why she is ignoring the very board that she recommended and appointed.”


ENDS

© Scoop Media

 
 
 
 
 
Parliament Headlines | Politics Headlines | Regional Headlines

 

Mt Roskill: Greens Will Not Stand In Likely Post-Goff By-Election

“The Green Party’s priority is changing the Government in 2017, and as part of that we’ve decided that we won’t stand a candidate in the probable Mt Roskill by-election... This decision shows the Memorandum of Understanding between Labour and the Green Party is working." More>>

ALSO:

Wellington: Predator Free Capital Plan

Wellington City Council (WCC), the Greater Wellington Regional Council (GWRC) and NEXT Foundation, today announced a joint collaboration to make Wellington the first Predator Free capital city in the world. More>>

ALSO:

Gordon Campbell: On Judith Collins’ Efforts At Self Correction

Thousands of prisoners currently in prison may be entitled to an earlier release than expected – and compensation – because Corrections has incorrectly calculated their term of imprisonment. Unless of course, the government buries its mistakes by changing the law and retro-actively getting itself off the hook… More>>

ALSO:

More Justice & Corrections

Sector Opposes Bill: Local Government Bill Timeframe Extended

The Minister of Local Government Peseta Sam Lotu-Iiga has asked the Select Committee to extend the report back date for the Local Government Act 2002 Amendment Bill (No 2). More>>

ALSO:

Breed Laws Don’t Work: Vets On New National Dog Control Plan

It is pleasing therefore to see Louise Upston Associate Minister for Local Government calling for a comprehensive solution... However, relying on breed specific laws to manage dog aggression will not work. More>>

ALSO:

Not Waiting On Select Committee: Green Party Releases Medically-Assisted Dying Policy

“Adults with a terminal illness should have the right to choose a medically assisted death,” Green Party health spokesperson Kevin Hague said. “The Green Party does not support extending assisted dying to people who aren't terminally ill because we can’t be confident that this won't further marginalise the lives of people with disabilities." More>>

ALSO:

General Election Review: Changes To Electoral Act Introduced

More effective systems in polling places and earlier counting of advanced votes are on their way through proposed changes to our electoral laws, Justice Minister Amy Adams says. More>>

Get More From Scoop

 

LATEST HEADLINES

 
 
 
 
 
 
 
 
 
Parliament
Search Scoop  
 
 
Powered by Vodafone
NZ independent news