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IASB issues interim standard on rate regulation

  • IFRS - IASB Image

Jan 30, 2014

The International Accounting Standards Board (IASB) published IFRS 14 "Regulatory Deferral Accounts". This Standard is intended to allow entities that are first-time adopters of IFRS, and that currently recognise regulatory deferral accounts in accordance with their previous GAAP, to continue to do so upon transition to IFRS.

The Standard is intended to be a short-term, interim solution while the longer term rate-regulated activities project is undertaken by the IASB.  The IASB has stated that by publishing this Standard, they are not anticipating the outcome of the comprehensive rate-regulated activities project which is in its early stages.

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