Topic:"Policy And Legislation" in M03154

Matter: P-111.6 - Nova Scotia Power Inc. - Approval of NSPI's Amended Accounting Policy and Procedures Manual. (US GAAP)Conversion to US Generally Accepted Accounting Principles for financial reporting purposes.

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06005Board Decision 1 passage

IV FINDINGS p. p. 0

IV FINDINGS [19] The publication of IFRS is under the authority of the International Accounting Standard Board ("IASB"). Regulated entities, such as NSPI, have the ability to recognize those assets and liabilities ("regulated assets and li...

AI summary The text discusses the transition from C-GAAP to IFRS for regulated entities like NSPI, highlighting the lack of clarity on recognizing regulated assets and liabilities under IFRS. It outlines the potential confusion and non-comparability of financial statements and the Board's approval of NSPI's exemption from C-GAAP, along with specific reporting requirements.

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