BDO Financial Reporting Insights

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By James Lindsay | 25 July 2023

JULY 2023

By James Lindsay | 25 July 2023

Five scope exclusions for non-insurers applying NZ IFRS 17 Insurance Contracts/PBE IFRS 17 Insurance Contracts

While NZ IFRS 17 Insurance Contracts/PBE IFRS 17 Insurance Contracts mainly affects insurers, entities that are not insurance companies (non-insurers) could inadvertently be affected because they have entered into arrangements that meet the definition of an insurance contract....

By James Lindsay | 24 July 2023

Effects of climate-related matters on financial statements

The International Sustainability Standards Board has released its new sustainability standards to “help to improve trust and confidence in company disclosures about sustainability to inform investment decisions”.

By James Lindsay | 21 July 2023

Tier 1 and Tier 2 for-profit amending standards issued

The XRB has issued two amending standards related to Supplier Finance Arrangements and International Tax Reform - Pillar Two model Rules.

By James Lindsay | 20 July 2023

Amendments to Code of Ethics

The XRB has recently updated Professional and Ethical Standard 1 to address the increasing use of technology.

By James Lindsay | 19 July 2023

FMA publishes scenario analysis information sheet for Climate Related Disclosures regime

The Financial Markets Authority has issued a scenario analysis information sheet to help climate reporting entities meet their obligations under the Climate-Related Disclosures regime.

By James Lindsay | 18 July 2023

FMA publishes updated and refreshed Auditor and Regulation Oversight Plan 2023-2026

The FMA has released its updated Auditor and Regulation Oversight Plan 2023-2026 and is planning to review each licensed audit firm every year to increase the frequency of engagement and identify new developments and industry requirements.

By James Lindsay | 29 June 2023

Six things to remember for 30 June 2023 annual and half-year financial statements

We share six things you need to consider for 30 June financial statements, including accounting in times of uncertainty, climate-related impacts, and new standards. 

By James Lindsay | 28 June 2023

IASB approves mandatory temporary exception for deferred taxes arising from Pillar Two top up tax

Entities subject to Pillar Two income taxes will not be permitted to recognise, or disclose information about, deferred tax assets and deferred tax liabilities related to Pillar Two income taxes.