International Financial Reporting For Nonprofit Organizations
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.
We are delighted to release the International Non-Profit Accounting Guidance Exposure Draft 1 (INPAG ED1). The consultation period was recently opened at the World Congress of Accountants in Mumbai, India, by Ian Carruthers and Assietou Diouf.
ED1 addresses 4 main topics that are important for the framing and context of INPAG:
- Describing NPOs / Reporting entity
- INPAG Framework
- Financial statement presentation
- Narrative reporting
We will run a series of free webinars on these topics from 16-19 January 2023. Register here. The remaining sector-specific issues will be addressed during 2023 in ED2 and ED3.