Due Process Oversight Committee holds October 2016 meeting
14 Nov, 2016
The Due Process Oversight Committee (DPOC) met in New Delhi on 13 October 2016.
Meeting activities included the following:
- Updates on technical activities — The DPOC was presented with a report that outlined the due process activities for all projects on the IASB’s current agenda. Specifically, the DPOC discussed (1) outreach conducted on performance reporting and debt/equity presentation for the conceptual framework project and (2) the decision on an issue regarding the interaction of IAS 28 and IFRS 9.
- 2015 Agenda Consultation: summary of the consultation process — The DPOC confirmed that the requirements of the Due Process Handbook have been meet.
- Effect Analysis — The DPOC discussed the challenges of assessing insurance products and macroeconomic consequences of applying the expected loss model under IFRS 9.
- Strategic Work Plan 2016 — The DPOC discuss benchmarking of its due process procedure against other organisations.
- Consultative groups — The DPOC agreed that the annual review of consultative groups was in accordance with the Due Process Handbook.
- Reporting protocol — The DPOC discussed the annual review and the handling of comment letters.
- IFRS education initiative due process report — The DPOC agreed that the development and level of review for the IFRS education initiative was consistent with the Due Process Handbook.
- Correspondence — No new correspondence has been received since the DPOC’s previous meeting.
The full report on the DPOC meeting is available on the IASB’s website.