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

the consultation period for INPAG Exposure Draft 2 was officially closed on 31 March 2024. We received 161 responses from diverse stakeholders in 58 countries! Check out the countries and stakeholder groups here.

All the responses are a matter of public record here.

Preparing for INPAG ED3

Hot on the heels of ED2, we are gearing up for the release of International Non-Profit Accounting Guidance, Exposure Draft 3 in May 2024. In many ways this is the summit, building on all the earlier work to address the burning issues of Fund accounting,
Classification of expenses (including support costs and fundraising) and Donor reporting formats (referred to ‘Supplementary statements’). Watch this space!

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