Standards Approval Process

Any party may propose an addition, deletion or modification to the Standards by submitting a "Best Practice Spreadsheet Modelling Standards - Proposal Form" to the SSRB. Each proposal is subject to the same approval process. The process for approving a proposal is as follows:

1. Completion and submission of a "Best Practice Spreadsheet Modelling Standards Proposal Form" to the SSRB which requires the following categories of information including (See "Standards Approval Criteria" for more details in relation to these categories):
   1. Submitting Party contact details;
   2. Submitting Party qualifications and experience;
   3. Type of proposal (addition, deletion or modification);
   4. Overview of proposal;
   5. Exact wording of Standard or Convention to be added, deleted or modified;
   6. Exact wording of new Standard or Convention to be added or modified;
   7. Summary of primary spreadsheet issues addressed by the proposal;
   8. Description of how the proposal complies with each of the eight "Criteria for Approval" - see below;
   9. Description of how the proposal meets the criteria for Standard or Convention "Classification" - see below; and
2. Preliminary review of submission by SSRB Proposal Committee;
3. Provision of Clarification Questions by SSRB Proposal Committee to Submitting Party (if required);
4. Preparation of final submission by Submitting Party to SSRB;
5. Dissemination of final submission to SSRB members (four weeks in advance of formal SSRB Meeting or decision making vote);
6. Consideration and discussion of final submission at formal semi-annual SSRB meeting; and
7. Vote to approve submission proposal by SSRB members:
   1. If approved by 75% of members - the Standard or Convention is added, deleted or modified for inclusion into the next version of the Best Practice Spreadsheet Modelling Standards;
   2. If not approved by 75% of members - the proposal is not approved, and in certain cases a report may be prepared by the SSRB Proposal Committee to the Submitting Party with suggested areas to address to gain future approval and/or summary of the reasons why the proposal was not approved