• Service: Audit, Financial Statement Audit, Financial Reporting & Accounting Standards, Accounting Advisory Services, International Financial Reporting Standards (IFRS)
  • Type: Regulatory update
  • Date: 30/01/2014

IFRS In the Headlines

IFRS In the Headlines
In the Headlines (formerly IFRS Briefing Sheets) provide a timely update on International Financial Reporting Standards (IFRS) developments.

Accounting for rate-regulated activities (2014/01) 

This In the Headlines looks at IFRS 14 – the IASB's interim guidance on accounting for regulatory deferral accounts by first-time adopters of IFRS.
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The first specific guidance on accounting for the effects of rate regulation under IFRS has been issued, with the publication of an interim standard – IFRS 14 Regulatory Deferral Accounts.


This will permit first-time adopters of IFRS to continue using previous GAAP to account for regulatory deferral account balances while the IASB completes its comprehensive project in this area.