ATTENTION MEMBERS PNGRB reference on compliance with AS 17 by CGD entities |
The Petroleum and Natural Gas Regulatory Board (PNGRB), entrusted with the duties, interalia, of regulating the transportation rate for city or local natural gas distribution networks or common or contract carrier pipelines, has recently informed the Institute that in the course of their consultation process, they have come to know that CGD entities i.e. entities engaged in the activities of laying building, operating or expanding city or local natural gas distribution networks are not adhering to the requirements of segment reporting on the ground that they operate in only one segment of business and therefore Accounting Standard 17 (Segment Reporting) that contains provisions for segment reporting does not apply to them. |
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