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Rate regulation - IASB

Date recorded:

On May 18 and 20, 2015, the IASB met to continue its discussions on rate regulation. At these sessions the IASB discussed implications of the tripartite relationships between (i) the rate-regulated entity and its customers; (ii) the rate-regulated entity and the rate regulator; and (iii) the rate regulator and the rate-regulated entity’s customers.

The IASB noted that existing predominant practice in IFRS financial statements deals with the first of these relationships. Thus, when applying existing Standards, an entity would use the terms and conditions in the individual contracts between the entity and its customers, which includes the regulated rate.

All IASB members decided, however, that the IASB should undertake standard-setting activity to also address the other two relationships, and that the form of that standard-setting activity would become apparent as the project progresses. All IASB members agreed that development of a second Discussion Paper would be the fastest way to progress the project.

Review the IASB Update.

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