Apr 07, 2014
From the IFRS Institute
By KPMG IFRG Limited | April 07, 2014
KPMG ISG's First Impressions: Regulatory Deferral Accounts - Interim Relief for First-Time Adopters of IFRS, provides a detailed analysis of the ISG's observations about IFRS 14, Regulatory Deferral Accounts. This interim standard allows first-time adopters of IFRS that are subject to rate regulation to continue to apply their existing accounting principles to regulatory deferral account balances while the IASB completes its comprehensive project on accounting for the effects of rate regulation. The interim standard is effective for financial reporting periods beginning on or after January 1, 2016, and early adoption is permitted.