We are pleased to announce the release of our updated model financial statements for the Crown Service Enterprise for the year ended 30 June 2011, prepared in accordance with New Zealand equivalents to International Financial Reporting Standards (NZ IFRS).

The model financial statements have been prepared to help guide Crown entities to prepare financial statements that comply with NZ IFRS. The model may also help in reducing the compliance costs of preparing NZ IFRS-compliant financial statements and contribute to an efficient financial statement audit.

The main updates to the model are explained on page 5 of the model financial statements.

Page last updated: 3 May 2011