Keeping fully up to date with the financial and practical implications of changes to accounting standards and practice is a real challenge. It's a lot to expect from your finance staff. Audit New Zealand has an in-house technical team solely focused on financial reporting developments and their application to the public sector.

This extends to team members' involvement in the shaping and review of accounting standards. They also work closely with the Office of the Auditor-General on the public sector implications of reporting changes.

Model financial statements

To help entities produce their first set of NZ IFRS financial statements, we are preparing NZ IFRS model financial statements for the central government, Crown entity, and local government sectors.

The model finacial statements are being prepared for a fictitious entity and illustrate our thinking on financial reporting practice, as well as legislative and good practice developments.

Current NZ IFRS model financial statements available

• Te Motu District Council: Model financial statements 2006-07
• Te Motu Regional Economic Development Trust: Model financial statements 2006-07

For more information

For more information please contact our technical experts.

Page last updated: 21 February 2008