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In January 2021 the International Accounting Standards Board (IASB) published its Exposure Draft Regulatory Assets and Regulatory Liabilities. The Exposure Draft sets out the IASB’s proposals for a model to account for regulatory assets and regulatory liabilities. 

The IASB discussed feedback on the Exposure Draft in October and November 2021 and its plans for redeliberating the proposals in the Exposure Draft in December 2021.

In July 2024, following completion of the redeliberations of the proposals in the Exposure Draft, the IASB confirmed it was satisfied that applicable due process requirements have been complied with and sufficient consultation and analysis were undertaken to begin the process for balloting the new IFRS Accounting Standard.

The IASB expects to publish the new Standard in the second half of 2025.  The new Standard will replace IFRS 14 Regulatory Deferral Accounts. 

IASB® Update March 2025

The IASB met on 19 March 2025 to discuss whether to develop reduced disclosure requirements for the prospective IFRS Accounting Standard Regulatory Assets and Regulatory Liabilities (prospective RARL Accounting Standard).

Reduced disclosures for regulatory assets and regulatory liabilities (Agenda Paper 9)

The IASB tentatively decided to confirm its proposal in the Exposure Draft Amendments to IFRS 19 Subsidiaries without Public Accountability: Disclosures to require an entity applying IFRS 19 and the prospective RARL Accounting Standard to apply all the disclosure requirements in the prospective RARL Accounting Standard.

Eleven of 14 IASB members agreed with the decision.

Next milestone

IFRS Accounting Standard