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European Union will not adopt IFRS 14

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30 Oct 2015

The European Commission (EC) will not propose for endorsement the interim standard on rate regulated activities, IFRS 14.

The EC argues that IFRS 14 Regulatory Deferral Accounts is a temporary standard offering an accounting option to companies that adopt IFRS for the first time. Therefore the EC will not propose IFRS 14 for endorsement in the EU as very few European companies would fall within its scope. The Commission will consider any future standard on rate regulated activities for endorsement in the EU under its normal process.

The EC's decision is reflected in an updated EFRAG endorsement status report.

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