We comment on the IASB’s regulatory deferral accounts proposals
We have published our comment letter on the International Accounting Standards Board’s 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. 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 time frame.