International Financial Reporting For Nonprofit Organizations

10M+ organizations in the global development sector manage billions of dollars annually.  Despite its size and scope, the sector is blocked by: 

• An absence of standardized financial reporting in more than 90% of countries
• Inconsistent practices across countries and organizations
• A lack of transparency and comparability

The result? Wasted time, money, and missed opportunities for global impact. 

The Solution

Meet International Non-Profit Accounting Guidance (INPAG). Humentum and CIPFA, the Chartered Institute of Public Finance and Accountancy in the UK, are leading a globally representative coalition to develop financial guidance that will:

• Streamline Operations: Eliminate redundant reporting formats
• Enhance Credibility: Improve financial report quality and assurance
• Increase Funding: Support fundraising and grant-making due diligence
• Improve Transparency: Clear reporting on unrestricted funds and support costs

The public consultation processes from September 2022 to September 2024 are now complete. They resulted in hundreds of responses from over 70 countries. As a proud partner in the development of INPAG, we are pleased to publish our own formal responses to each of the Exposure Drafts (EDs):

• ED1 – Summary | full response – (financial statements, general reserves, sensitive information)
• ED2 – Summary | full response – (grant terminology & accounting, foreign exchange losses)
• ED3 – Summary | full response – (harmonized grant accounting, support costs)

A WORLDWIDE MOVEMENT

• IFRS* Foundation and IFAC* licensed their standards for our use
• 357 organizations from 61 countries provided input
• 14,000+ engaged individuals in 169 countries
• 3,500+ organizations involved
• 4,500+ hours of donated professional time
• Funded by 4 donors to date

*International Financial Reporting Standards Foundation and International Federation of Accountants