17 Financial reporting standards may cover non-financial reporting

(1)

A financial reporting standard may relate to reporting on—

(a)

an entity’s performance; or

(b)

an entity’s related party transactions; or

(c)

any other non-financial matter that directly relates, or is incidental or ancillary, to an entity’s financial reporting; or

(d)

other non-financial matters authorised by an Order in Council made under subsection (2).

(2)

The Governor-General may, on the recommendation of the Minister, by Order in Council,—

(a)

authorise the Board to issue financial reporting standards that relate to reporting on 1 or more of the following matters:

(i)

an entity’s governance:

(ii)

an entity’s strategic direction and targets:

(iii)

the social, environmental, and economic context in which an entity operates:

(iv)

any other matter relating to an entity’s performance or position; and

(b)

specify conditions to which the authorisation is subject.

(3)

The Minister may make a recommendation only if he or she is satisfied that it is desirable for standards referred to in subsection (2)(a) to be issued in order to provide for the integrated reporting of an entity’s performance or position in terms of both financial and non-financial information.

(4)

This section does not limit section 15.