Welcome to our October Newsletter. We have been astounded with the responses to International Non-Profit Accounting Guidance (INPAG), Exposure Draft 3 (ED3) which is now closed. The formal public dialogue started in 2021 with a Consultation Paper and a three-part Exposure Draft. The insights and feedback gathered will now inform the finalisation of INPAG as we work towards the launch in 2025!
This marks a pivotal moment as we transition from a period of consultation to a new phase of promoting the use, implementation, and adoption of INPAG.
Thank you to all those who responded. We are excited to have received an impressive 192 responses from 55 countries. This truly global participation highlights the importance that stakeholders place on INPAG and the value of having diverse voices heard.
The comments are a matter of public record and can be viewed from the website. We look forward to digesting them in the coming weeks. The analysis and forward actions will be presented in papers to the Technical and Practitioner Advisory Groups for further consideration as we finalise INPAG.
View the responses here
Since many TAG members were already in London for IFASS (International Forum of Accounting Standards Setters), we took the opportunity to convene a substantial in-person meeting at CIPFA’s office on 26 – 27 September.
We discussed feedback from Exposure Drafts 1 & 2, including the scope of INPAG, sector specific concepts and principles necessary to underpin the framework, accounting for grants and donations, and foreign currency issues.
Access the papers and recording here
In her latest blog, Zowie Pateman, explains how fund accounting can transform non-profit financial management. Fund accounting helps NPOs manage restricted and unrestricted funds separately, providing clear insight into how resources are used, and tell the story of financial performance and financial health.
Even though fund accounting is widlely practiced in the sector, this is the first time it has been defined and harmonised in an international standard. This improves clarity, strengthens trust with stakeholders, helping NPOs to better allocate funds and identify gaps, and supports financial sustainability.
Read the blog here.
CSO leaders: Your voice is missing! Humentum, proud INPAG partner supporting locally led development, has launched first-of-its-kind CSO Index focused on Equity, Resilience, and Accountability (ERA). By participating, you’ll gain access to a toolkit of policies and templates to help address common challenges in funding, governance, and more!
