IFR4NPO

The IFR4NPO initiative represents a once in a generation opportunity to transform the financial reporting landscape and create a much more solid foundation for the non-profit sector to demonstrate its accountability and secure the trust of its many stakeholders.

There are no international standards guiding NPOs how to prepare their annual audited accounts. While a few countries have their own standards for NPOs, these differ from each other. International standards that exist for businesses do not address all the needs of NPOs’ stakeholders, like accounting for grants. We have an opportunity of a generation to build resilience, more efficient grant making processes, fairer resource allocation, and stronger accountability mechanisms.