Due Process Compliance Statement - Proposed Amendments to the IFRS Foundation Due Process Handbook

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The Trustees of the IFRS Foundation published the Exposure Draft Proposed Amendments to the IFRS Foundation Due Process Handbook¹ on 19 December 2024. The IASB comment period ended on 28 March 2025.

Influencing process

Project preparation

Step	Mandatory / optional²	Metrics or evidence	UKEB Secretariat comments
Added to UKEB technical work plan [Due Process Handbook (Handbook) 4.30]	Mandatory	Project included in the UKEB published technical work plan	Complete: The Review was included in the UKEB technical work plan published in February 2025.
Project Initiation Plan (PIP) [Handbook 5.4 to 5.8, A1 to A2 and A12 to A14]	Mandatory	PIP draft with project outline (background, scope, project objective) and approach for influencing (key milestones and timing)	Complete: The Secretariat included mandatory milestones for the project and considered, as appropriate, other milestones and activities. The PIP was approved at the 27 February 2025 Board meeting.
	Mandatory	Outreach plan for stakeholders and communication approach outlined	Complete: The PIP (referred to above) included the outreach plan and approach.
	Mandatory	Resources allocated	Complete: One Project Director – Governance Lead. Some input was also obtained from the economics team, as per the PIP.
	Mandatory	Assessment of whether to set up an ad-hoc advisory group	Complete: Taking a proportionate approach, an ad-hoc advisory group was considered unnecessary. The existing UKEB advisory and working groups have the necessary skills and expertise to provide feedback on this project.
	Mandatory	Assessment of whether PIP required updating	Complete: We monitored this throughout the project, the nature and scope of which remained as proposed in the original PIP.
	Mandatory	UKEB Board public meeting held to approve PIP	Complete: The Board approved the PIP at its meeting on 27 February 2025.
Education sessions [Handbook 4.10]	Optional	Board provided with education sessions	Complete: The Board was provided with an education session on the proposed amendments to the Handbook on 28 January 2025.

Desk-based research

Step	Mandatory / optional²	Metrics or evidence	UKEB Secretariat comments
Desk-based research [Handbook 5.9 and A3]	Optional	Review of relevant documentation	Complete: the Secretariat has reviewed relevant documentation, including: The UKEB Due Process Handbook and other organisations' due process requirements; IFRS Due Process Oversight Committee (DPOC) papers, presentations, and meetings, including the Exposure Draft (ED); and Other standard-setters' views.

Outreach

Step	Mandatory / optional²	Metrics or evidence	UKEB Secretariat comments
Outreach activities [Handbook 5.10 to 5.12 and A4 to A8]	Mandatory	Evidence of consultation	Complete: Outreach activities focused on: Circulating the list of issues to be included in the UKEB Comment Letter, via email, to the members of the UKEB advisory and working groups. Highlighting the project at scheduled meetings of the UKEB advisory groups. Discussing the list of issues to be included in the UKEB Comment Letter with UK and international bodies with an interest in this project, including Government and regulators. The Feedback Statement summarises feedback on the UKEB's Points proposed for inclusion in the UKEB Comment Letter.

Draft Comment Letter (DCL)

Step	Mandatory / optional	Metrics or evidence	UKEB Secretariat comments
DCL published for comment (mandatory unless impracticable) [Handbook paragraphs 5.13 to 5.17 and A4(d)]	Mandatory	Comment period set for responses to DCL	Complete: The Points proposed for inclusion in the UKEB Comment Letter was published for consultation, for two weeks, on 4 March 2025 (comment period deadline: 18 March 2025). This was in place of a DCL.
	Mandatory	Review and approval at a UKEB public meeting	Complete: The Points proposed for inclusion in the UKEB Comment Letter was reviewed and approved at the Board meeting on 27 February 2025, subject to amendments suggested at that meeting. This was in place of a DCL.
	Mandatory	DCL published on website for public consultation	Complete: The Points proposed for inclusion in the UKEB Comment Letter was published on the UKEB website for public consultation on 4 March 2025 (comment period deadline: 18 March 2025). This was in place of a DCL.

Project finalisation and project closure

Step	Mandatory / optional²	Metrics or evidence	UKEB Secretariat comments
Final Comment Letter (FCL) [Handbook paragraph 5.18 and A4(d)]	Mandatory	Public responses to DCL considered and published on website	Complete: The UKEB did not receive any written responses to the Points proposed for inclusion in the UKEB Comment Letter document. Verbal responses, provided at the advisory group meetings were assessed and reflected, as appropriate, in the FCL and summarised in the Feedback Statement.
	Mandatory	FCL approved by the UKEB in public meeting	Complete: A draft of the FCL was approved by the Board, at its 28 March 2025 public meeting.
	Mandatory	FCL submitted to the IASB and posted on UKEB website	Complete: Following Board approval, the FCL was submitted to the IFRS Foundation's Due Process Oversight Committee (DPOC), on 28 March 2025, and posted on the UKEB website.
Feedback Statement [Handbook 5.19 to 5.22 and A9 to A11]	Mandatory	Feedback Statement approved for publication by the UKEB in a public meeting	Complete: A draft of the Feedback Statement was approved by the Board, at its 28 March 2025 public meeting.
	Mandatory	Feedback Statement published on the UKEB website	Complete: Following Board approval, the final version of the Feedback Statement was published on the UKEB website.

Ongoing communications

Step	Mandatory / optional²	Metrics or evidence	UKEB Secretariat comments
Due Process Compliance Statement (DPCS) [Handbook 5.23 to 5.26 and A12 to A14]	Mandatory	DPCS approved by the UKEB in public meeting	Complete: A draft DPCS was presented to the Board, for approval, at its 28 March 2025 public meeting. The final DPCS was presented, for noting, at the Board's 22 May 2025 public meeting.
	Mandatory	DPCS published on the UKEB website	Complete: The approved DPCS was published on the UKEB website after the 22 May 2025 Board meeting.
Public Board meetings [Handbook 4.10]	Mandatory	UKEB public meetings held to discuss technical project	Complete: The Board approved the PIP at its meeting on 27 February 2025. The FCL, Feedback Statement and draft DPCS were approved by the Board at its meeting on 28 March 2025, subject to suggested amendments.
Secretariat papers [Handbook 4.20]	Mandatory	Board meeting papers posted and publicly available usually no later than 5 working days before a Board meeting.	Complete: The UKEB's meeting papers were published on the UKEB website 5 working days before the public meetings. Meeting minutes and recordings were made publicly available via the UKEB website.
Project webpage [Handbook 4.25(b)]	Mandatory	Project webpage contains a project description with up-to-date information on the project.	Complete: The project webpage has been updated regularly on a timely basis.
Subscriber Alerts [Handbook 4.24]	Optional	Evidence that subscriber alerts have occurred	Complete: Subscribers were alerted via email 5 days before each Board meeting, with links to the agenda, papers and the option to dial in to observe the discussion.
News Alerts [Handbook 4.24]	Optional	News Alert to announce publication of key documents	Complete: A News Alert was published on 5 March 2025 advising that the PIP for this project had been approved and providing a link to the Points proposed for inclusion in the UKEB Comment Letter document. A link to the document was sent out to the members of the UKEB advisory and working groups. A News Alert was published on 1 April 2025 alerting stakeholders to the FCL.

Conclusion

This project does not respond to a paper issued by either the IASB, ISSB or IFRIC. Therefore, it is not specifically covered by the UKEB's Due Process Handbook.

However, this project complies with the applicable due process requirements for technical influencing projects, as set out in the December 2022 Handbook, with one slight variation: the UKEB did not publish a Draft Comment Letter (DCL). Instead, the Board agreed a list of the main points to be proposed for inclusion in the Comment Letter.

The list of 'Points proposed for inclusion in the UKEB Comment Letter' was published on the UKEB website project page, highlighted to stakeholders via a News Alert, and emailed to members of the UKEB advisory and working groups for comments and views.

Footnotes

Due Process Handbook Review. In accordance with the Due Process Handbook. ↩

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