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Due Process Handbook Review [Completed]

Last up­dated:

August 2020

Overview

The Due Process Handbook (Handbook) has been in use since January 2013. The last update, in 2016, was to incorporate an annex specifically focused on due process for the IFRS Taxonomy.

The Due Process Oversight Committee (DPOC) undertook a further review to ensure that the Handbook continues to be fit for purpose.

In June 2020, the DPOC approved the publication of the revised Handbook. The Handbook was published in August 2020.

The main changes were to:

  • clarify the authority of agenda decisions published by the Interpretations Committee and their role in supporting consistent application of IFRS Standards, and enhancing the related due process by formally involving the Board in their finalization; and
  • reflect recent developments in the Board’s effect analysis process—assessing the likely effects of a new or amended IFRS Standard—that emphasize the role of such analyses in standard-setting and make it clear that such analyses take place at all stages of standard-setting.

In addition, the amendments enhance and streamline the consultation requirements for adding major projects to the Board’s work plan; update and enhance the minimum amount of review required for educational material produced by the IFRS Foundation; and clarify the DPOC’s role in overseeing the IFRS Taxonomy due process.

 

Other de­vel­op­ments

August 2020

On August 21, 2020, the Trustees of the IFRS Foundation issued an updated IFRS Foundation Due Process Handbook. The most important changes regard the clarification of the authority of agenda decisions published by the Interpretations Committee and an additional due process step with requires the Board to vote on and agree with agenda decisions.

July 2020

On July 23, 2020, IASB staff updated the Work Plan to indicate that the Board plans to issue the revisions to the Due Process Handbook in July 2020.

April 2020

On April 17, 2020, IASB staff updated the Work Plan to indicate that the Board plans to issue the revisions to the Due Process Handbook in June 2020.

February 2020

On February 28, 2020, the IASB staff updated the work plan to indicate that the IASB expects to issue the revisions to the Due Process Handbook in April 2020.

January 2020

On January 31, 2020, the IASB staff updated the Work Plan to indicate that the IASB expects to issue revisions to the Due Process Handbook (no date specified).

November 2019

On November 25, 2019, the IASB staff updated the Work Plan to indicate that the Board plans to review the Exposure Draft feedback in December 2019.

October 2019

On October 1, 2019, the IASB® staff updated the work plan to indicate that the Board expects to review the Exposure Draft Feedback in October 2019.

May 2019

On May 18, 2019, the IASB® staff updated the work plan to indicate that the Board expects to review the Exposure Draft feedback in Q4/2019.

April 2019

On April 30, 2019, the IASB issued an Exposure Draft of proposed amendments to its Due Process Handbook. Comments are due by July 29, 2019.

April 2019

On April 12, 2019, the IASB staff updated the work plan to indicate that the Board expects to issue an Exposure Draft in May 2019.

February 2019

On February 12, 2019, the IASB® staff up­dated the work plan to in­di­cate that the Board ex­pects to is­sue an Exposure Draft in Q2/2019.

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