IASB Meeting September 2005

The Board decided to add a project to its agenda to address the accounting for  Emissions Trading Schemes project. The Board noted the interaction with its project to revise IAS 20 Accounting for Government Grants and Disclosure of Government Assistance. Accordingly, the Board decided first to consider the treatment of permits and licences (including emission rights) issued to entities by government for less than fair value as part of its IAS 20 project. Once it issues an exposure draft of amendments to IAS 20 it will consider other issues relating to emission trading schemes, for example the subsequent accounting for emission allowances and credits.