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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.

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Led by Humentum and CIPFA, the Chartered Institute of Public Finance and Accountancy in the UK, the highly collaborative project design includes engagement with national standard setters and practitioners from every continent.

Humentum and CIPFA are glad to announce the release of the International Non-Profit Accounting Guidance, Exposure Draft 3 (INPAG ED3). This third and final INPAG consultation will be open for comment until 16 September 2024.
Check out the press release here. 
We invite you to participate in this consultation, open until 16 September 2024. Your feedback is important in shaping the future of financial reporting for NPOs.

Exposure Draft 3 28 May 2024

Get updates on INPAG ED3 by clicking here  

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

Humentum and CIPFA are glad to announce the release of the International Non-Profit Accounting Guidance, Exposure Draft 3 (INPAG ED3). This third and final INPAG consultation will be open for comment until 16 September 2024.
Check out the press release here.
We invite you to participate in this consultation, open until 16 September 2024. Your feedback is important in shaping the future of financial reporting for NPOs.

INPAG ED3 Webinar series

We are running a series of 5 free webinars to explain the proposals and hear your questions and comments from 9 – 23 July 2024. You can participate in English, with resources in Spanish and French, and auto-translation into 28 languages.

  • ‘Classification of expenses’ covers presentation and disclosure, including support costs, fundraising costs and capital expenditure.
  • ‘INPAG and Donor reporting’ covers a harmonised format for supplementary statements, and a bridging note in the main accounts.
  • ‘Fund accounting’ explains how NPOs can keep track of different grants and unrestricted funds.
  • A set of illustrative financial statements enables us to visualise what a set of INPAG compliant accounts could look like.
  • ‘Other topics in ED3’, including fair value, property plant & equipment, and asset impairment.

INPAG

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Our Initiatives

IQTS
CHS Alliance and Humentum are strengthening the global capacity to respond to SEAH.
Administration Costs Research
Helping organizations fully recover their indirect costs so they can focus on the work that matters.
BRIDGE
An initiative to develop internationally applicable financial reporting guidance for non-profit organizations