International Financial Reporting For Nonprofit Organizations

There is no international accounting standard written to meet the needs of the non-profits. A few developed nations have been able to strengthen their domestic sectors by developing national guidance to improve transparency, consistency and accountability. But lack of access to relevant standards contributes to inequity in NPO income and financial health, as well as causing wasteful duplication and inefficiency. The IFR4NPO project, implemented by Humentum and CIPFA, is addressing this gap.

Evidence for demand for this guidance comes from a 2014 survey, in which 72% of respondents from 179 countries agreed that it would be useful. The International Accounting Standards Board and the International Public Sector Accounting Standards Board are aware and actively observing the development process.

Learn more about IFR4NPO

Project updates

INPAG Exposure Draft 2 was issued on 26 September, open for comments until 15 March 2024. We support many of the proposals. In the spirit of global collaboration and following feedback from our stakeholders, we also have some recommendations and suggestions to share, particularly with respect to accounting for grants.  We are publishing our summary response before the 15th of March deadline to provoke discussion and reflection!  

Whether you agree with our position(s) or have different views, please share your voice by visiting this page.

The summary of Humentum’s response can be viewed here.

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