There are no international standards guiding NPOs (NGOs and other non-profit organisations) how to prepare their annual audited accounts. While a few countries have their own standards for NPOs, these differ from each other. International standards that exist for businesses do not address all the needs of NPOs’ stakeholders, like accounting for grants.
The IFR4NPO initiative represents a once in a generation opportunity to transform the financial reporting landscape and create a much more solid foundation for the non-profit sector to demonstrate its accountability and secure the trust of its many stakeholders.
The Consultation Paper has been launched. Now is the moment for you to have your say and hear from our stakeholders all over the world. Find out more here.