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Transition from PBE IPSAS 29

BC13. With respect to entities transitioning from PBE IPSAS 29 the proposed transitional provisions in ED 2018-5 were based on the provisions in IFRS 9, PBE IFRS 9 and IPSAS 41. Respondents were generally in support of the proposals, although a respondent requested that the NZASB add a specific


transition provision in relation to the measurement of financial guarantee contracts issued through a non- exchange transaction whose fair value could not previously be reliably measured at initial recognition. In response to this request the NZASB added a specific transition provision (paragraph 169.1) which mirrored, to the extent possible, the requirements in paragraph 45(c).