Due Process Oversight Committee (DPOC)
The Trustees of the IFRS Foundation have a committee—the DPOC—which is responsible for overseeing the due process procedures of the IASB and its Interpretations Committee.
The responsibilities of the DPOC:
As stated in the IASB and IFRS Interpretations Committee Due Process Handbook, the DPOC is responsible for:
- reviewing regularly, and in a timely manner, together with the IASB and the IFRS Foundation staff, the due process activities of the standard-setting activities of the IASB;
- reviewing, and proposing updates to, the Due Process Handbook that relate to the development and review of Standards, Interpretations and the IFRS Taxonomy so as to ensure that the IASB procedures are best practice;
- reviewing the composition of the IASB’s consultative groups to ensure an appropriate balance of perspectives and monitoring the effectiveness of those groups;
- responding to correspondence from third parties about due process matters, in collaboration with the Director for Trustee Activities and the technical staff;
- monitoring the effectiveness of the IFRS Advisory Council (‘Advisory Council’), the Interpretations Committee and other bodies of the IFRS Foundation relevant to its standard-setting activities; and
- making recommendations to the Trustees about constitutional changes related to the composition of committees that are integral to due process, as appropriate.
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