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14 Nov. 2019

New AASB Due Process Framework for Setting Standards

Everything you never wanted to know about the AASB’s processes for setting standards is now set out in a revised Due Process Framework document!

The extensive due process of the AASB in setting standards and other pronouncements ensures that the views of stakeholders are heard and considered throughout the development process.

The new document, titled AASB Due Process Framework for Setting Standards, describes the types of pronouncements and guidance developed by the AASB and the principles underlying the due process, as well as detailed procedures. The framework also includes a revised approach to interpretations, replacing the 2012 model.