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| | (ONS). |
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| To exempt pre-existing arrangements from subsequent more restrictive laws or regulation.
| | The branch of the UK government responsible for the collection of various categories of financial and demographic statistics, including census information. |
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| Grandfathering may be applied for the full natural life of pre-existing arrangements, or for a more limited period which is considered long enough to allow new and compliant arrangements to be put in place.
| | == See also == |
| | | * [[Continuous Mortality Investigation]] |
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| 2. ''Financial reporting''
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| To continue a previous financial accounting treatment - where permitted - for pre-existing contracts or transactions, during a transition period.
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| For example, IFRS 16 (Leases) allows existing leases to continue be accounted for under the previous accounting regime, applying the new definitions only to new contracts.
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| == See also== | |
| * [[FATCA]] | |
| * [[IFRS 16]]
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| ===Other links===
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| [http://www.treasurers.org/node/9713 Feeling the force of FATCA, The Treasurer, December 2013/January 2014]
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| [[Category:Accounting,_tax_and_regulation]]
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| [[Category:Compliance_and_audit]]
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Revision as of 15:04, 21 August 2013
(ONS).
The branch of the UK government responsible for the collection of various categories of financial and demographic statistics, including census information.
See also
