Global initiative to develop financial reporting guidance for Not-for-Profit Organizations

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Feb 23, 2021

On February 23, 2021, the staff of the Accounting Standards Board (AcSB) announced that it is participating in a global initiative to develop non-authoritative financial reporting guidance for not-for-profit organizations (NFPOs) in jurisdictions that, unlike Canada, currently do not have NFPO accounting standards.

The IFR4NPO Consultation Paper has recently been issued. Canadian stakeholders are encouraged to respond to Part I by July 30, 2021 and Part II by September 24, 2021.

Review the article on the AcSB's website.

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