Exposure Draft of Regulatory Assets and Regulatory Liabilities

Indian Accounting Standards (Ind AS) are based on the IFRS issued by the International Accounting Standards Board (IASB) of IFRS Foundation. The IASB, before issuing the new/amendments to IFRS Standards, issues the Exposure Draft (ED) for public comments across the globe. The Accounting Standards Board (ASB) of ICAI with the aim to provide an opportunity to the various stakeholders in India to raise their concerns at the initial International Standard-setting stage (ED stage) itself, invites comments on the ED issued by the IASB. It also helps the Indian stakeholders to be aware of the international developments and preparations required for implementation in future. At present, following ED issued by IASB is open for comments:

  •          Regulatory Assets and Regulatory Liabilities

The ED proposes to supersede existing IFRS 14, Regulatory Deferral Accounts, an interim Standard that permits a variety of accounting approaches for the effects of rate regulation to continue temporarily. The proposals would, if implemented, affect entities subject to a regulatory agreement that is capable of creating regulatory assets and regulatory liabilities. For users of financial statements, the IASB expects that application of the proposals would result in financial statements providing a clearer and more complete picture of the relationship between the revenue and expenses of those entities.

Comments on the abovementioned ED may be submitted through any of the following modes: 



Click on "submit a comment letter" below (Preferred method) 



Comments can be sent to: commentsasb@icai.in 


Secretary, Accounting Standards Board, 

The Institute of Chartered Accountants of India, 

ICAI Bhawan, Post Box No. 7100,  

Indraprastha Marg, New Delhi 110 002 

Further clarifications on this ED may be sought by e-mail to asb@icai.in.  

Comment letter deadline

The Exposure Draft is open for comment until 10th May, 2021

Due process documents
Exposure Draft of Regulatory Assets and Regulatory Liabilities  [PDF]