CAGTR and XRB Business Links seminar
“New Leasing Standards for both PBEs and For-profit – the devil is in the detail” – CAGTR and XRB Business Links Seminar.
The Centre for Accounting, Governance, and Taxation Research (CAGTR) and the External Reporting Board (XRB) recently held a joint seminar at Rutherford House titled: “New Leasing Standards for both PBEs and For-profit – the devil is in the detail”, attended by 120 people from the business and public sector communities and academia.
Ian Carruthers, Chair of the International Public Sector Accounting Standards Board, spoke about the Board’s review of responses to a proposed leasing standard for public benefit entities. Angela Ryan, Principal Accounting Advisor at The Treasury, spoke about the impact of the proposed standard on Government as a lessee and the effect on the Whole-of-Government Accounts. Francis Caetano, Group Financial Controller at Auckland Council, spoke about the Council’s issues as a lessor while continuing to provide ratepayers with a public benefit. Finally, Karl Hickey, Senior Finance Manager at ANZ, spoke about the challenges that were being encountered in the private sector in implementation of the new standard on leasing for business entities, NZ IFRS 16, and the lessons available from that for development of the standard for public benefit entities.
Attendees at the seminar included members of the accounting profession, the public sector, VBS students and University staff and the general public.