We are pleased to announce the release of our updated model financial statements for Ministry of Public Accountability for the year ended 30 June 2010 (PDF, 336kB, 63 pages), prepared in accordance with New Zealand equivalents to International Financial Reporting Standards (NZ IFRS).

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

There are a number of new standards, interpretations, and amendments to NZ IFRS that must be applied for the first time in preparing the 30 June 2010 financial statements. In particular, the model illustrates the new presentation and disclosure requirements of the revised NZ IAS 1 Presentation of Financial Statements (Revised 2007) and the amended NZ IFRS 7 Financial Instruments: Disclosures.

If you want a copy, please email reports@oag.govt.nz and we'll put one in the mail. HTML version will be available before the end of September.

Page last updated: 10 August 2010