Endorsement process starts as soon as COM receives a new IFRS standard or IFRIC interpretation from the IASB. COM then asks EFRAG for its endorsement opinion and notifies members of the Standards Advice Review Group that the endorsement advice has been requested indicating the approximate time of its delivery. Upon delivery of EFRAG's final opinion on endorsement, Standards Advice Review Group has three weeks to give its advice to the Commission. In exceptional circumstances this may be extended to four weeks.

The role of the Group is to assess whether EFRAG's opinion on endorsement is well-balanced and objective.

After COM receives EFRAG's opinion and advice of SARG, it will draft the endorsing Regulation, with standard or interpretation in its Annex. Together with all required documents it will be sent for consultation with other Commission services – so-called Inter-service consultation.

COM will also send this Regulation to members of the Accounting Regulatory Committee and schedule a meeting of the Accounting Regulatory Committee to vote on proposal for endorsement. Accounting Regulatory Committee (ARC) is composed of representatives from Member States and is chaired by the Commission.

The role of ARC is to ensure the formal representation of Member States interests in the endorsement process under so-called Comitology procedure. Accounting Regulatory Committee approves implementing measures by qualified majority.

Draft implementing measures should be also sent to the European Parliament two months before the meeting. After the meeting, the EP has another one month to consider whether the Commission has exceeded its implementing powers.

These comitology rules will be modified in the future. IAS Regulation will be amended to include a new 'regulatory procedure with scrutiny'. Under this new procedure the Commission will, after obtaining Accounting Regulatory Committee's favourable opinion, submit the draft measure for scrutiny by the EP and the Council. The new procedure will extend the time for EP and Council to react to 3 months, unless a fast track procedure will be adopted.