Welcome to our August newsletter. As we approach the final stages of the consultation period for the International Non-Profit Accounting Guidance Exposure Draft 3 (INPAG ED3), your feedback remains crucial. We’re eager to hear your thoughts and ensure the standards meet the diverse needs of the non-profit sector.

In this issue, you’ll find updates on the successful Asia ED3 Consultation event in Kuala Lumpur, insights from our recent webinars, and a video from Humentum on assessing financial health from the INPAG Illustrative financial statements. Join us as we continue to shape the future of financial reporting for non-profit organisations.

The countdown has begun! The 16 September deadline is just over 2 weeks away.

Your feedback is valuable in ensuring that the guidance reflects the diverse needs and perspectives of the non-profit sector stakeholders. Now is the time to review the proposals, share your insights, and shape the future of financial reporting for non-profit organisations.

You can submit comments by clicking here.

• Option 1, the response template: Ideal for organisations, or individuals who wish to provide detailed feedback. It gives us rich qualitative feedback. In English only.

• Option 2, the survey: Ideal for individuals keen to share quick feedback. It gives us broader quantitative data. In English and Spanish.

So far, we have received 5 responses. We also have commitments from 60 additional individuals and organisations from 36 countries to submit their feedback. This is great, but we need more! Let us know that you intend to submit a response by filling out this form.

One of the main highlights of this month was the success of our one-day regional consultation event held in Kuala Lumpur, Malaysia, on 21 August. We appreciate the support of the Malaysia Accounting Standards Board in hosting the event, which had participants from Japan, Nepal, Indonesia, Bhutan, India, Bangladesh, the Philippines, and Malaysia.

A memorable moment occurred when a participant approached us during a break, holding a meticulously bound copy of ED3 and asked, “I had this question from page 193…”. Another attendee told us about their research, showing that a sample of a certain type of NPOs in their country were 47% INPAG compliant.

We invited 12 individuals to provide their personal perspectives on the proposals before diving into group discussions and polls. The level of preparation, research, and in-depth understanding of practical implications was incredibly impressive and insigthful.

Did you engage with our webinar series and have opinions or questions? Now we’re eager to gather your feedback through an Open Consultation Event as we approach the end of the INPAG ED3 consultation period.

Join us for the event next Wednesday, 4 September! Supporting participation in Spanish and French as well as English, this 90-minute event will comprise brief framing comments (not full presentations), break out rooms with questions, feedback, and polls. We look forward to your participation.

We completed the INPAG ED3 webinar series with the final session on 14 August focusing on Illustrative Financial Statements. We appreciate the participation of everyone who engaged. You can now catch up on any missed sessions through the ED3 webinar series playlist on the IFR4NPO YouTube Channel.

Financial sustainability is a key concern for many NPOs, and at the heart of Humentum’s mission to build equity, resilience and accountability in the non-profit sector. Check out this short video from Sam Musoke that explains how Humentum’s training and research measures financial sustainability, and the extent to which this information is available for NPOs that report using INPAG.

• Governance Group meeting: The group met on 1 August to discuss guidance development due process, project risks, and strategy.

• Practitioner Advisory Group (PAG): The PAG will meet on 12 September. The agenda and papers will be made available here.

• Technical Advisory Group (TAG): The TAG will meet for 2 days in London on 26 and 27 September. The agenda and papers will be made available on here.