The Trustees of the IFRS Foundation have a committee—the DPOC—which is responsible for overseeing the due process procedures of the International Accounting Standards Board IASB) and its Interpretations Committee and the International Sustainability Standards Board (ISSB).
The due process comprises the requirements followed by the IASB and the ISSB and the IFRS Interpretations Committee relating to standard-setting, the development of materials to support the consistent application of IFRS Standards, and the IFRS Accounting Taxonomy and the IFRS Sustainability Disclosure Taxonomy.
The process laid out in the Constitution and developed in consultation with stakeholders acts as a detailed ‘contract’ between the IFRS Foundation and its stakeholders. This ‘contract’ is described in detail in the Due Process Handbook.
The Due Process Handbook was last updated in 2020 before the ISSB was established. As described here, the requirements specified in the Handbook for the IASB also apply to the ISSB.