About
The Due Process Handbook (Handbook) was last updated in August 2020, before the ISSB was created. The Handbook therefore does not refer to the ISSB. The ISSB has applied the due process for the International Accounting Standards Board (IASB) specified in the Handbook from the start of its operations in 2022. In addition, the DPOC has overseen the ISSB’s technical activities in the same way it has the IASB’s. The Foundation’s due process underpins the boards’ standard-setting and was one of the main reasons the Foundation was asked to create the ISSB.
In practice, the due process set out in the Handbook has provided a robust and workable due process for the ISSB, even though its Standards differ from the IASB’s in their subject matter and their degree of industry-specific content. To date, the DPOC has not identified a need to create separate due processes for the boards, apart from some specific due process for the ISSB for the SASB Standards. Now that the ISSB has been operating for more than two years, the DPOC decided to amend the Handbook to specify formally the due process for the ISSB. Updating the Handbook to include references to the ISSB will also make clear and explicit that the IASB and the ISSB apply the same due process.
Although the creation of the ISSB was the catalyst for the proposed amendments to the Handbook, the DPOC is taking the opportunity to propose targeted enhancements and clarifications reflecting experience since the 2020 update. These amendments do not represent fundamental changes to the Foundation’s due process, because the DPOC’s view is that the current due process is thorough and robust and is appropriate for the ISSB as well as the IASB. The DPOC is also of the view that the 2020 amendments are working well.
