A CFO, was recently recruited from tUS, where he was the Head of Accounts for a manufacturing company. Being based in the USA, his former company prepared its financial statements according to US Generally Accepted Accounting Practices (US GAAP) as adopted by the Securities and Exchange Commission (SEC).However,he knows that financial statements are prepared according to slightly different rules in New Zealand. He asks you to provide a brief overview of how GenerallyAccepted Accounting Practices for external financial reporting are determined in New Zealand.

Explain how the rules for external reporting of financial information by for-profit entities are determined in New Zealand. concepts including XRB, IASB, IFS and the Conceptual Framework.Explain how often companies needs to release financial statements to comply with New Zealand Stock Exchange (NZX) listing requirements.

Also attach with some links to where he can access more detailed information on the above if he needs it.