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Consultation paper on international financial reporting by non-profit organisations

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04 Feb 2021

International Financial Reporting for Non-Profit Organisations (IFR4NPO), an initiative to develop the first internationally applicable financial reporting guidance for non-profit organisations, has published a consultation paper to give non-profit organisations the opportunity to contribute to the development of the guidance for their sector.

The guidance will apply to the unique sector-specific aspects of the annual general purpose financial reports, considering accounting issues as well as narrative reports that accompany financial statements. It will improve the clarity and consistency of non-profit organisations' financial reports, resulting in greater credibility and trust in the not-for-profit sector globally. The International Accounting Standards Board (IASB) and the International Public Sector Accounting Standards Board (IPSASB) are aware and actively observing the development process.

The consultation paper has two parts:

  • PART 1: General NPO financial reporting issues
  • PART 2: NPO-specific financial reporting issues

Comments on part 1 are requested by 30 July 2021, on part 2 by 24 September 2021.

Please click for the following additional information on the IFR4NPO website:

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