Have you ever been required to apply a standard that felt like it was written by, or for, people in a different context – like using a square peg for a round hole? At IFR4NPO we are working to resolve this often-felt experience for the non-profit sector. We are keen that voices from all over the world are heard so that we can develop internationally applicable financial reporting guidance for the non-profit sector. We want the guidance we produce to be relevant, and build upon the wealth of experience and solutions already developed in different countries.
This is why we issued a Consultation Paper on 28 January 2021. It was drafted over the course of 9 months with input from our Technical and Practitioner Advisory Groups drawn from every continent.
Fully embracing the opportunities presented by digital work era, in March to June, 348 people participated in ten 3-hour regional consultation events which were offered in Spanish, French, Arabic and English. The events were attended by local and international NPOs, auditors, standard setters, regulatory bodies, donors, civil society and other stakeholders.
In Part 1 of the consultation paper we invited stakeholders to give us feedback on: