Exposure Draft of the International Non-Profit Accounting Guidance (INPAG) - Part 2

The preparation of financial statements is crucial for accountability and decision-making and for trust and confidence in NPOs. However, there are no common international accounting standards for NPOs, unlike in the private and public sectors. The International Financial Reporting for Non-Profit Organisations (IFR4NPO) project aims to respond to these issues by strengthening NPO governance and financial management through the development of internationally applicable financial reporting Guidance for non-profit organisations.  

In this regard, first Exposure Draft of International Non-Profit Accounting Guidance (INPAG) was issued by Chartered Institute of Public Finance and Accountancy (CIPFA) and Humentum in November, 2022. INPAG ED1 was focused on the overarching framework for NPO financial reporting. Recently, the following Exposure Draft of INPAG Part-2 has been issued for public comments: 

  • Exposure Draft of International Non-Profit Accounting Guidance (INPAG) Part 2 

ED2 is the second of three Exposure Drafts that will be published and taken together will comprise the full INPAG. The focus of ED2 is on some of the key accounting transactions that are relevant for NPO financial reporting. It includes: 

  1. Expenses on grants and donations 
  2. Revenue 
  3. Inventories 
  4. Foreign Currency translation 

How to comment: 



Click on "Submit a comment letter" below (Preferred method)       



Comments can be sent to: commentsasb@icai.in   



Secretary, Accounting Standards Board,   

The Institute of Chartered Accountants of India,   

ICAI Bhawan, Post Box No. 7100,    

Indraprastha Marg, New Delhi 110 002   

Further clarifications on this Exposure Draft may be sought by e-mail to asb@icai.in.  

Comment letter deadline

The Exposure Draft is open for comment until 10th January, 2024

Due process documents
Exposure Draft of the International Non-Profit Accounting Guidance (INPAG) - Part 2  [PDF]