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Table of Abbreviations


Part I: The Financial Reporting Structure: Discussion Document

Regulatory and Competition Policy Branch
[ Last Updated 10 November 2005 ]


The following abbreviations have been used in the discussion document and are provided here for reference:

ASICAustralian Securities and Investments Commission [Link to External Website] - Australia's company, financial services and securities regulator
ASRBAccounting Standards Review Board [Link to External Website] - the New Zealand accounting standards setter, established under the Financial Reporting Act 1993
FASBFinancial Accounting Standards Board [Link to External Website] - the United States accounting standards setter
GAAPGenerally Accepted Accounting Practice. Defined in the Financial Reporting Act 1993, the Public Finance Act 1989 and Local Government Act 2002. The concept includes applicable financial reporting standards and accounting policies that have "authoritative support" within the accounting profession in New Zealand and are appropriate to the circumstances of the individual entity
GFSGovernment Finance Statistics - IMF system for statistical analysis of government finances
IASBInternational Accounting Standards Board [Link to External Website] - international body that produces IFRS
ICANZInstitute of Chartered Accountants of New Zealand [Link to External Website] - professional accountancy body with several functions, in particular, the dominant provider of technical expertise for standards
IFACInternational Federation of Accountants [Link to External Website] - international professional body of accountants
IFAC-PSCInternational Federation of Accountants Public Sector Committee [Link to External Website] - IFAC committee that produces IPSAS
IFRSInternational Financial Reporting Standards - international standards for financial reporting of profit-oriented entities, produced by the IASB
IMFInternational Monetary Fund - international organisation for promoting international monetary co-operation and stability, produces GFS
IPSASInternational Public Sector Accounting Standards - financial reporting standards for public sector entities, set by IFAC-PSC

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