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October 3, 2017updated 03 Jan 2021 5:40pm

CIPFA and IFASS release international not-for-profit reporting guidance platform

By Stephanie Wix

Chartered Institute of Public Finance and Accountancy (CIPFA) and the International Forum of Accounting Standard Setters (IFASS) Not-for-profit Working Group have launched an online platform to improve understanding of the various financial reporting methods used by global not for profit organisations.

While reporting standards for not-for-profit entities remain of great interest to national standard setters to this date there is not a single set of international reporting standards for these entities, a gap the platform aims to bridge according to IFASS chair Liesel Knorr and CIPFA chief executive Rob Whiteman.

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