Report on the March 2022 DPOC meeting

  • DPOC meeting (mid blue) Image

16 Mar 2022

The Due Process Oversight Committee (DPOC) held its first meeting of the year on 1 March in Frankfurt, Germany, and by video conference. A report on the meeting is now available.

On IASB-related matters, the DPOC was provided with an update on the activities of the IASB and the IFRS Interpretations Committee. The DPOC was updated on the due process documents that had been published in the period and noted that the Interpretations Committee would be considering its first application question relating to IFRS 17 at the Committee’s March meeting. The update provided also included the goodwill and impairment project and practical questions that would arise if the IASB were to reintroduce amortisation of goodwill and possible refinements to the post-implementation review process.

On ISSB-related matters, the DPOC discussed the due process to be applied by the ISSB. The DPOC acknowledged that the ISSB’s due process will have to develop over time, but also noted that respondents to the Trustees’ consultation paper on sustainability reporting had said that a key motivating factor behind them encouraging the IFRS Foundation to establish the ISSB was the transparent due process applied by the IASB. The DPOC decided that the ISSB will begin by applying the IASB due process and the DPOC will work proactively with the ISSB leadership to consider whether any adaptations are required.

Please click to access the full report on the IFRS Foundation website.

Related Topics

Correction list for hyphenation

These words serve as exceptions. Once entered, they are only hyphenated at the specified hyphenation points. Each word should be on a separate line.