External Reporting Board (XRB)

OVERVIEW

External Reporting Board (XRB) is an independent Crown entity in Aotearoa New Zealand charged with developing and maintaining standards for accounting, auditing & assurance, and climate-/sustainability reporting.

XRB’s main focus is to ensure external reporting and assurance systems are robust, transparent, and relevant both locally and internationally. Its strategic framework aims to promote sustainable economic growth, accountability and informed decision-making through trusted, integrated information.

Key goals include developing accounting and auditing standards that meet user needs, balancing benefits against reporting costs, aligning with international standards (such as IFRS, IPSAS, ISA etc.), and responding to evolving issues like climate-related disclosures and non-financial reporting. XRB recognises that high-quality reporting now encompasses environmental, social, human, and natural capitals, in addition to financial.

In terms of structure, XRB includes its Board, plus specialist sub-Boards such as New Zealand Accounting Standards Board (NZASB), New Zealand Auditing & Assurance Standards Board (NZAuASB) and Sustainability Reporting Board (SRB). The SRB is charged with issuing climate standards and non-binding guidance on non-financial reporting. Board members are appointed with a diversity of skills, bringing technical, sectoral and governance expertise.

Useful resources XRB provides: its Accounting Standards Framework, which uses a multi-sector, multi-tiered approach so that standards are proportionate to entity size and public accountability; guidance and tools to help entities identify which standards apply; climate and sustainability reporting guidance; international alignment materials; public consultations, webinars, and stakeholder engagement.

MISSION STATEMENT

Our purpose

Promoting trust and confidence, transparency and accountability through high-quality external reporting and assurance.

We do this by establishing and maintaining robust frameworks and standards that are internationally credible and relevant to New Zealand.

ORGANISATION TYPE

Government Organisations & Departments

LOCATION

New Zealand

RESOURCES

https://www.xrb.govt.nz/

RECENTLY PUBLISHED BY EXTERNAL REPORTING BOARD (XRB)

Climate-related risks, opportunities and impacts – Identification to quantification: An approach for identifying and assessing climate-related risks and opportunities and their associated anticipated impacts and anticipated financial impacts

External Reporting Board (XRB)

4 August 2026

This guidance for New Zealand climate reporting entities details a five-phase framework to identify and assess climate-related risks and opportunities. It provides a structured approach for moving from qualitative impact assessment to the quantification of financial impacts, supporting compliance with climate standards and strengthening strategic resilience.

Aotearoa New Zealand climate standards series

The Aotearoa New Zealand Climate Standards series is a benchmark series issued by the External Reporting Board. It sets out the framework for climate-related disclosures, including governance, strategy, risk management, metrics and targets, adoption provisions, and general requirements. The series provides entities with a consistent structure to report climate-related risks and opportunities.