IFR4NPO April Newsletter
There are no international standards guiding NPOs (NGOs and other non-profit organisations) on 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.
We are developing guidance called International Non-Profit Accounting Guidance (INPAG) and our first Exposure Draft is open for public comment until 31 March 2023.
So far sector stakeholders from more than 168 countries have registered their interest in this project. Designed with diversity and inclusion as its heart, we seek to engage with individuals from a range of different stakeholder groups, nationalities, geographical locations, races and genders. This is important for many reasons, including the credibility and validity of the guidance development process and the quality of the final product. Subscribe for free to receive project updates.
There are no upcoming events at present. Register for updates to be informed about events in your area as soon as they are posted.