1 August 2012
News Release

PwC supportive of the Financial Reporting Bill


"PwC welcomes the much anticipated Financial Reporting Bill that was introduced to Parliament yesterday.

The Bill revamps the current financial reporting framework and significantly reduces costs for small and medium sized companies. The cut in these compliance costs aligns New Zealand on an international scale and streamlines the financial reporting requirement for entities.
The Bill also clarifies compliance obligations for charities, and includes a new power which allows the External Reporting Board to issue accounting standards for registered charities.

Partner, Michele Embling says “Overall this is a positive move for New Zealand business in creating a financial reporting framework that functions efficiently and effectively”.
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