IFRS Foundation updates rulebook for standard setting

Posted on May 11, 2026 by Editor

The IFRS Foundation has published a revised version of its Due Process Handbook, the document that governs how the International Accounting Standards Board (IASB) and the International Sustainability Standards Board (ISSB) develop, consult on and maintain their standards.

While the update does not amount to a wholesale overhaul of the standard-setting process, it's a significant moment, as the revision is the first since 2020, before the sustainability board even existed, and cements the ISSB's integration into the IFRS Foundation's established governance architecture.

The revised version now formally confirms that both boards operate under the same procedural framework, reinforcing the IFRS Foundation's ambition to present financial and sustainability reporting as closely aligned parts of a single global system.

The changes themselves are largely technical, including clarifications on how post-implementation reviews should be conducted, expanding guidance on the role of the IFRS Interpretations Committee, and setting out procedures for making minor amendments to standards. It also introduces a formal review process for educational materials, acknowledging the growing importance of implementation guidance in a context of global adoption of reporting requirements.

The handbook also codifies the due process for updating the SASB Standards, which companies are required to consider when applying ISSB standards, providing additional procedural certainty for reporters and supervisors.

Read more here.