OBS_VALUE: New Zealand has adopted New Zealand equivalents to IFRS Standards (NZ-IFRS) for all public companies. NZ-IFRS are substantively identical to IFRS Standards as issued by the IASB Board with three additional New Zealand-specific standards. For an NZ IFRS to become authoritative, the NZASB must complete its due process and must approve the NZ IFRS for issue and a member of the External Reporting Board (XRB), usually the XRB Chair, must sign a certificate authorising the standard. Foreign companies are required to use NZ-IFRS unless specific exemption is granted allowing them to use another financial reporting framework including IFRS Standards as issued by the IASB. 