IFR4NPO March Newsletter
We are pleased to announce that the name of the Guidance will be International Non-Profit Accounting Guidance (INPAG).
INPAG will be stand-alone Guidance, so that preparers and auditors can find what they need in one place. Using the IFRS for SMEs as a starting point, changes will be made to address the prioritized non-profit issues. The application will be up to each jurisdiction, but the NPOs we have in mind during the development process need to track assets and liabilities and report on a range of transactions and activities to meet the needs of the users of their financial reports.