Deloitte comment letter on IASB ED/2013/5 'Regulatory Deferral Accounts'

Published on: 03 Sep 2013

Deloitte Touche Tohmatsu has responded to the International Accounting Standards Board (IASB) Exposure Draft ED/2013/5 Regulatory Deferral Accounts.

We believe that the interim solution proposed in the exposure draft is an appropriate tool for jurisdictions experiencing delays in adoption of IFRSs as a result of concerns about accounting for rate regulation and, as such, concur with the proposal as a means of facilitating further global adoption of IFRSs and hence achieving increased global comparability in other areas of financial reporting.

However, we stress the importance of the IASB committing to pursuing the completion of its comprehensive project on rate regulation as a matter of priority and within a reasonable timeframe. It is also critical that the interim Standard does not anticipate the conclusions of that comprehensive project, which will take account of the definitions of assets and liabilities as well as other relevant matters expected to be developed in the Board’s Conceptual Framework project.

Download the full comment letter below.


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