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The IASB has launched a request to obtain a high-level overview of the types of rate regulation regimes currently in force and collect factual evidence to use in its work on a future discussion paper that will identify:
a) the common features of rate regulation;
b) whether these common features create economic resources for, or claims against, a rate-regulated entity that should be recognised in IFRS financial statements; and
c) the information about the consequences of rate regulation that would be most relevant to users of IFRS financial statements.
EFRAG believes that in developing its discussion paper the IASB should consider existing regimes in Europe so that a future standard on the topic fully considers the regulations that exist in European.
That information, together with input obtained from EFRAG’s Rate-Regulated Activities Working Group, will allow EFRAG to provide the IASB as comprehensive an input from Europe as possible. As a reminder, EFRAG’s call for nominations to EFRAG’s Working Group on Rate-Regulated activities is open until 30 April, 2013.