IASB issues IFRS 14 Regulatory Deferral Accounts

The IASB issued an interim Standard, IFRS 14 Regulatory Deferral Accounts.

IFRS 14 permits first-time adopters to continue to recognise amounts related to rate regulation in accordance with their previous GAAP requirements when they adopt IFRS. However, to enhance comparability with entities that already apply IFRS and do not recognise such amounts, the Standard requires that the effect of rate regulation must be presented separately from other items. An entity that already presents IFRS financial statements is not eligible to apply the Standard.

IFRS 14 Regulatory Deferral Accounts is effective from 1 January 2016, with early application permitted.

Please find herewith attached the press release.