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: www.sec-com.govt.nz.

Comments should be sent to Lisa Economou (lisa.economou@sec-com.govt.nz) by 16 February 2005.

ENDS


© Scoop Media

 
 
 
Business Headlines | Sci-Tech Headlines

 


Commerce Commission: Appeals Record $2.25m Fine In Vodafone FibreX Case

The Commerce Commission has filed an appeal in the High Court against a record $2.25 million fine imposed on Vodafone NZ Limited (Vodafone) for its offending under the Fair Trading Act during its FibreX advertising campaign. While the sentence imposed in the Auckland District Court on April 14 was the largest-ever fine under the Fair Trading Act, the Commission will argue that it is manifestly inadequate... More>>



All District Health Boards: Historic Pay Equity Settlement

An historic agreement has been ratified that addresses a long-standing undervaluation of a workforce that is critical to the smooth running of our hospitals and the delivery of healthcare... More>>


MPI: Dry Autumn In Waikato And South Auckland Leads To Drought Classification Drought conditions affecting the primary sector in the Waikato and South Auckland were today classified as a medium-scale adverse event, enabling a package of support for farmers and growers... More>>


Barfoot & Thompson: Rents Up By Around 3% In Most Areas

The average weekly rent paid for homes in most areas of Auckland has risen by around 3 percent year-on-year. The figures for end March from more than 16,000 properties... More>>


DoC: Smeagol The ‘Gravel Maggot’ Leaves Its Rare Mark On The Remote West Coast
An extremely rare species of sea slug or ‘gravel maggot’ has been detected for the first time on a remote beach in South Westland... More>>



Immigration: Annual Net Migration Loss Of 7,300

The provisional net loss of 7,300 people in the year ended March 2022 was the lowest net migration for a March year since 2012, Stats NZ said today... More>>