In the past two weeks, the global funding landscape has dramatically shifted and impacting many organizations both directly and indirectly. In this time of uncertainty, we believe that INPAG is more vital than ever. This crisis has highlighted two significant issues:

The vulnerability of NPOs that lack enough unrestricted reserves to weather a disruption in funding.
The need for NPOs to demonstrate impact in the use of financial resources, building trust with funders and communities alike.

Even as the storm is currently whirling, we know we mustn’t lose sight of the long term, structural, international benefits that INPAG will bring for the sector’s millions of NPOs, small and large. We assert that mission-based organisations are vital for the protection and support of society and environment, our heritage and our future. The ecosystems that enable NPOs to demonstrate their accountability, credibility, effectiveness and efficiency are needed more than ever.

Samantha Musoke, IFR4NPO Project Director had the opportunity to present about the INPAG standard to approximately 170 members of the Institute of Chartered Accountants of Nigeria, Lagos District. The presentation was warmly received, with one participant sharing this feedback: “The deep knowledge of the issues was evident throughout, and the engaging style kept all of us captivated.”

The positive response marks an important step forward in our efforts to engage stakeholders and promote the adoption of INPAG in Nigeria.

In 2024, we launched a dedicated page to showcase the growing community of local and international stakeholders committed to improving the quality of financial reporting and reducing the burden of multiple reporting formats. We’re proud to now feature 51 organisation logos and 87 individuals on the website.

This diverse group represents a shared vision for transparency, equity, and efficiency in non-profit financial reporting. We encourage you to view the inspiring organisations and individuals who have joined this campaign to drive meaningful change.

Want to join them? Add your name to this growing list and be part of the movement. Learn more here.

We are glad to celebrate the appointment of INPAG Governance Group member Assietou Sylla Diouf as a Trustee of the International Financial Reporting Standards Foundation (IFRS Foundation). This is a welcome recognition of her expertise, and strategic insights.

This appointment is of particular relevance to the project, because even though the focus of the IFRS Foundation is standards for profit-oriented entities, the IFRS for SMEs Accounting Standard was used as the foundational framework for the development of INPAG.

We extend our heartfelt congratulations to Assietou Sylla Diouf on this well-deserved appointment!

Thank you Mr Viswajithsing Tuhobol and African Forum of Independent Accounting and Auditing Regulators (AFIAAR)

Recent meetings of the advisory groups are shown below:

• 16 January – Practitioner Advisory Group: The group discussed Fund accounting, Expenses Classification and Fundraising Costs. The papers and recording are now available here.

• 21 January – Technical Advisory Group: The topics covered include Revenue, Expenses Classification and Fundraising Costs, Related Party Disclosures, Materiality, Liabilities and Equity Claims Final Guidance, and Fair Value. The papers and recording are now available here.

Upcoming meetings

• Focus Group Meeting – 05 February 2025

• Governance Group Meeting – 06 February 2025

• Practitioner Advisory Group Meeting – 06 February 2025

• Technical Advisory Group Meeting – 25 February and 25 March 2025