The Exposure Draft proposes to supersede existing IFRS 14, Regulatory Deferral Accounts, an interim Standard that permits a variety of accounting approaches for the effects of rate regulation to continue temporarily. The proposals would, if implemented, affect entities subject to a regulatory agreement that is capable of creating regulatory assets and regulatory liabilities. For users of financial statements, the IASB expects that application of the proposals would result in financial statements providing a clearer and more complete picture of the relationship between the revenue and expenses of those entities.

Invitation to comment

The Accounting Standards Board (ASB) of ICAI with the aim to provide an opportunity to the various stakeholders in India to raise their concerns at the initial International Standard-setting stage itself, invites comments from public. The downloadable version is available at: https://www.icai.org/resource/63089asb51042.pdf

How to comment

Comments on the abovementioned ED may be submitted through any of the following modes, so as to be received not later than May 10, 2021: