An important part of the standard-setting process is to ensure that the Standards of GRAP are effective and have been applied as intended. The Board does this through two types of reviews: 

The results of the reviews are published in Review Reports, progress reports, or through other means of communication.  

The Board recently reviewed, or are in the process of reviewing, the following Standards.  

The Board only reviews Standards that are effective and have been fully implemented (i.e. the transitional provisions have expired). Any of the Standards that are effective are eligible for review during 2027-2029. The Standards recently reviewed are not considered a priority of feasible. 

Materiality remains an issue identified through the ASB’s projects and in various forums. This is despite the Guideline on the Application of Materiality to Financial Statements and other supporting material developed by the Secretariat, such as a Fact Sheet, FAQ and content on the ASB’s YouTube Channel.  

The Board considers there is a need for a project to assess various aspects of materiality from the perspectives of preparers, users and auditors. 

Access more information about the work programme consultation on our website here.