New Zealand was seen as world-leading when public sector financial reports were prepared using sector-neutral accounting standards from 1995 onwards. The decision in 2002 to adopt IFRS was disruptive, effecting new understandings of 'sector-neutral', and the standard-setter's approach was 2 unsuccessful in meeting public sector users' needs. The development of a new strategy finalised in 2012 has created a multi-standards framework including adapted IPSASB standards applicable from 1 July 2014. While neutrality is still prized, it is within a framework of meeting users' needs. This paper traces the influences expediting these changes.
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