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Contents
The Auditor-General's views on setting financial reporting standards for the public sector.
Part 1 – Auditor-General’s introduction
- A summary of my views
- Why financial reporting standards are important
- Scope of this discussion paper
Part 2 – Setting standards in New Zealand
- Setting financial reporting standards until late 2002
- Deciding to adopt International Financial Reporting Standards
- Coming up with guidelines for adapting IFRS
- Adapting IFRS to NZ IFRS before 2005
- Creating financial reporting standards to supplement NZ IFRS
- Setting up a public benefit entity working group
- Deciding to defer mandatory adoption of NZ IFRS for some entities
- Reviewing the financial reporting framework
- Reviewing the guidelines for setting financial reporting standards
- Assessing the financial reporting standards for the public sector
- Concluding comments
Part 3 – Setting standards internationally
- Standard setting activities of the International Accounting Standards Board
- Standard setting activities of the International Public Sector Accounting Standards Board
- Concluding comments
Part 4 – My concerns about financial reporting standards for the public sector
- The role of general purpose financial reports
- General concerns about the suitability of NZ IFRS for the public sector
- Specific concerns about the suitability of NZ IFRS for the public sector
- Questions about the suitability of NZ IFRS for the public sector in future
- Concluding comments
Part 5 – My views on changes that are needed
Appendices
- Comparing NZ IFRS with previous financial reporting standards for the public sector
- Other concerns about the suitability of NZ IFRS for the public sector