On 19 December 2024 the Trustees of the IFRS Foundation, through the Due Process Oversight Committee (DPOC), published the Exposure Draft Proposed Amendments to the IFRS Foundation Due Process Handbook (Handbook) to reflect the creation of the International Sustainability Standards Board (ISSB) in 2021. The amendments proposed in the Exposure Draft would ensure that the ISSB and the International Accounting Standards Board (IASB) follow the same rigorous, inclusive and transparent standard-setting process. The Exposure Draft also proposes a due process for the SASB Standards and the SASB Standards Taxonomy, which are maintained by the ISSB.
The Exposure Draft also includes some proposed enhancements to and clarifications about:
- the purpose of post-implementation reviews of IFRS Standards;
- the IFRS Interpretations Committee’s work with the IASB to support consistent application of IFRS Accounting Standards;
- the process of consulting on packages of minor improvements to the Standards; and
- the review process for education materials.
The DPOC oversees the due process and the Handbook; it has also led the work to amend the Handbook.
The deadline for submitting comment letters is 28 March 2025.
Comment Letter