Due Process Handbook

The Handbook sets out the due process that the UKEB follows in carrying out its statutory functions, which consist of:

1. influencing the development of international accounting standards and the other activities of the International Accounting Standards Board (IASB) and the IFRS Interpretations Committee; and
2. endorsing and adopting new international accounting standards, amendments to international accounting standards or IFRIC Interpretations for use in the UK.

This Handbook describes additional due process steps that the UKEB follows for:

1. carrying out its thought leadership activities and developing its own search programme;
2. performing its own post–implementation reviews;
3. setting up and operating advisory groups; and
4. ensuring it complies with the required due process steps in this Handbook.

'International accounting standards' means: International Accounting Standards (IAS), International Financial Reporting Standards (IFRS) and related Interpretations (SIC-IFRIC interpretations); subsequent amendments to those standards and related interpretations, future standards and related interpretations issued or adopted by the International Accounting Standards Board (IASB).

It is the meaning given in Statutory Instrument 2019/685 by referring to Article 2 of Regulation (EC) No 1606/2002 of the European Parliament and of the Council of 19 July 2002 on the application of international accounting standards.

On 21 February 2022 the UKEB published a [draft] Handbook for public consultation.

The public consultation period closed on 6 June 2022. Thank you to all stakeholders that provided feedback.

All responses received were considered when finalising the Handbook. The Handbook was published on 8 December 2022. An accompanying Feedback Statement describes how the UKEB addressed the feedback received from stakeholders.