The popularity of cryptocurrencies has soared in recent years, yet they do not fit easily with the New Zealand equivalents to International Financial Reporting Standards (NZ IFRS) and the International Financial Reporting Standards (IFRS). For example, it may seem intuitive to approach accounting for holdings of cryptocurrencies at fair value through profit or loss, but this is incompatible with the requirements of NZ IFRS and IFRS in most circumstances.

In our latest IFRS Viewpoint, we explore acceptable methods of accounting for holdings in cryptocurrencies and touch on other potential issues.