EFRAG PREPARATORY WORK FOR ENDORSEMENT ADVICE —REGULATORY ASSETS AND REGULATORY LIABILITIES—PREPARATORY SURVEY FOR REGULATORY REGIMES OTHER THAN THE ENERGY SECTOR REGIMES

Objective

The IASB is expected to issue a new IFRS Accounting Standard Regulatory Assets and Regulatory Liabilities (hereafter referred to as IFRS X) in Q2 2026. In anticipation, as part of its preparatory work for the endorsement advice to the European Commission on IFRS X that will be prepared and issued thereafter, this survey is targeted at preparers from European rate-regulated entities outside the gas and electricity sector that are likely to be in the scope of IFRS X. The survey aims to gather information on how IFRS X’s application is likely to affect these entities, and the survey results will be part of the evidence considered by EFRAG in its potential endorsement advice on IFRS X. The results will also inform the endorsement activities.

Through this survey, EFRAG aims to gain a better understanding in the following areas:

Information on the regulatory agreements currently in place in sectors other than gas and electricity (such as water sector, motorways, railroad, airport services, postal services etc.) including expected changes in future years.
Impact of IFRS X on the information reported in IFRS financial statements of entities in these sectors.

Relatedly, in Q1 2025, EFRAG conducted another survey targeted at preparers focused on the practicability of the expected requirements (based on IASB’s tentative decisions) of IFRS X, and a preliminary cost-benefit assessment of these requirements. The feedback (see preliminary analysis) obtained largely came from the energy sector.

Background

In July 2024, the IASB completed its redeliberations of the proposals in the Exposure Draft Regulatory Assets and Regulatory Liabilities and, as noted, a final Standard (IFRS X) is expected to be published in the Q2 2026. IFRS X will allow rate-regulated entities to recognise their enforceable present rights and enforceable present obligations arising from the regulatory agreement and subject to certain conditions as regulatory assets and regulatory liabilities in their statement of financial position and any changes related to them in the statement of financial performance.

Individual responses to this survey will be treated with the strictest confidentiality and will only be accessible to the EFRAG project team. Completed surveys will not be posted on the EFRAG website and reporting of the survey findings will only be done in summarised and anonymised format.

Survey instructions

The survey consists of general questions (Questions 1–6) and specific questions (Questions 7–16) on the regulatory agreement and impact of IFRS X on the financial statements. Please select the answer of your choice or mark the survey scale (when provided) and include comments in the boxes provided where needed.

If your entity is subject to different regulatory schemes (for example, because it operates in more than one industry or jurisdiction), you need not complete the survey for every regulatory scheme. Please respond by considering your most significant regulatory scheme. If you choose to respond for more than one regulatory scheme, please complete one survey for each regulatory scheme.

If you have any questions about completing the survey, please contact Ioana Kiss (ioana.kiss@efrag.org) or Silvia Persichetti (spersichetti@fondazioneoic.eu). Kindly send your completed survey by 31 March 2026.

Thank you very much for completing this survey.