The Financial Reporting Act 2013 1 mandates the existence External Reporting Board. The External Reporting Board issues financial reporting standards 2 . The Board develops a financial reporting strategy 3 . However this is only for financial reporting purposes. For tax reporting purposes, the tax administration act 4 provides for IRD to use Order in Council 5 to set out its requirements 6 7 1. https://www.legislation.govt.nz/act/public/2013/0101/latest/DLM4632899.html 2. https://www.legislation.govt.nz/act/public/2013/0101/latest/DLM4632900.html 3. https://www.xrb.govt.nz/standards/financial-reporting-strategy/ 4. https://www.legislation.govt.nz/act/public/1994/0166/latest/DLM5966518.html 5. https://www.legislation.govt.nz/glossary.aspx#:~:text=Order%20in%20Council,Prime%20Minister%20and%20Cabinet%20website. 6. https://www.taxtechnical.ird.govt.nz/new-legislation/order-in-council-articles/tax-administration-financial-statements-order-2014 7. https://www.ird.govt.nz/managing-my...