In February 2008, the Canadian Accounting Standards Board (AcSB) announced that the use of International Financial Reporting Standards (IFRS) will be required as at January 1, 2011 for publicly accountable enterprises.   It is expected that most utilities regulated by the Commission will be required to adopt IFRS.  The adoption of IFRS is expected to change the manner in which utilities perform their accounting and report their financial results, and have implications on the Commission’s regulatory accounting and rate making process.

The Commission initiated a consultation process with utilities and interested stakeholders in late 2008 to examine regulatory issues associated with decision of the AcSB to adopt IFRS.  The consultation process resulted in the development of AUC Rule 026, a rule that is expected to assist utilities and interested stakeholders with the transition to IFRS.

Copy of AUC Rule 026, and any revisions are attached below:

Rule 026 (effective December 20, 2011)
Bulletin 2011-32
Rule 026 technical changes blacklined
Rule 026 (previous version)

Commission request regarding revised IFRS adoption date

Revised IFRS Adoption Notices

AltaGas Utilities Inc.
AltaLink Management Ltd.
ATCO Electric Ltd., ATCO Gas, ATCO Pipelines, CU Water Limited
ENMAX Corporation
EPCOR Distribution & Transmission Inc., EPCOR Energy Alberta Inc.
FortisAlberta Inc.
TransAlta Corporation

IFRS Adoption Notices

City of Lethbridge
City of Red Deer

AUC's Letter of Acknowledgement to the City of Red Deer
AUC's Letter of Acknowledgement to the City of Lethbridge

For consultations regarding development of Rule 026 click here