The New Zealand Accounting Standards Board (NZASB) has issued revised versions of its Standards and Framework applying to Public Benefit Entities (PBEs) to incorporate specific requirements applying to not-for-profit entities in the top two ‘tiers’ under New Zealand’s differential reporting framework. The revised requirements are based on International Public Sector Accounting Standards (IPSASs) issued by the International Public Sector Accounting Standards Board (IPSASB), and would see eligible New Zealand not-for-profit entities move away from a mix of requirements based on New Zealand equivalents to International Financial Reporting Standards (NZ IFRS) and other accounting policies under governing legislation or other mandates.