IFRS 14 – another gap closes, sort of

The IASB has issued IFRS 14 Regulatory Deferral Accounts, effective for annual periods beginning on or after January 1, 2016. For those who aren’t familiar with the area, IFRS 14 brings into IFRS for the first time a practice long-established elsewhere, that entities subject to rate-regulation (power suppliers and suchlike) can justify recognizing assets and…