The External Reporting Board's work focuses on:

• developing a financial reporting strategy for New Zealand

• preparing and issuing accounting standards

• preparing and issuing standards for assurance practitioners
• liaising with national and international organisations that have similar standard setting functions
• preparing and issuing climate standards and non-binding guidance on non-financial reporting.

The organisation consists of:

• the External Reporting Board (XRB Board)
• the New Zealand Accounting Standards Board (NZASB)
• the New Zealand Auditing and Assurance Standards Board (NZAuASB)
• the Sustainability Reporting Board (SRB).