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Rate-regulated activities

Date recorded:

The Board continued its discussion from earlier in the week regarding the accounting for rate regulated activities as no consensus had previously been reached. The staff provided the Board with four potential alternatives of how to move forward with the project.

Those include:

  • a "fast-tracked" standard,
  • an interim solution for those pending initial adopters of IFRS while later considering a longer term solution,
  • an amendment to IFRS 1 to permit the continued use of previous national GAAP for rate regulated activities for first time adopters, and
  • continue with the existing project under its current timeframe.

After deliberations of the four alternatives, the Board agreed to continue its current project under the existing timeframe without amending IFRS 1.

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