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Exploring INPAS

Supporting high-quality financial reporting for NPOs

Supporting high-quality financial reporting for NPOs

INPAS – what’s new

The first edition of the International Non-Profit Accounting Standard (INPAS) has been developed specifically for non-profit organisations (NPOs). INPAS is effective immediately and can be used straight away.  

INPAS covers: 

  • which types of organisations are NPOs 
  • who are the primary users of NPO financial statements
  • accounting for grants and donations
  • presenting funds with use restrictions
  • presentation and disclosure of expenses
  • narrative reporting requirements
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INPAS Standard cover with border 4

INPAS – what to expect

It is a single, comprehensive standard that covers all NPO transactions. It is designed specifically to meet the needs of the users of NPO general purpose financial reports. 

  • Concepts and principles (A) 
  • Financial statements (B) 
  • Revenue (C) 
  • Expenses and liabilities (D)
  • Non-financial assets (E) 
  • Financial assets and liabilities (F) 
  • Consolidation (G)
  • Additional information (H) 
  • Transition to INPAS (Z) 

 

This includes:

  • Who are NPOs
  • Revenue from grants and donations
  • Expenses on grants and donations
  • Presentation of information in the financial statements
  • Fund accounting
  • Narrative reporting
  • Presentation of expenses
  • Fundraising costs
  • Presentation of foreign exchange gains and losses

Subsequent editions of INPAS will address additional NPO-specific topics. These will be determined through a public consultation.

INPAS:

  • takes account of NPO-specific needs by following  the ‘Process for developing the Internation Non-Profit Accounting Standard through changes to the IFRS for SMEs Accounting Standard’
  • can be used without any knowledge of the IFRS for SMEs Accounting Standard 
  • explains the key differences to the IFRS for SMEs Accounting Standard for those that are familiar with it (in INPAS Annex A).

Each INPAS section is either:

  • new (not covered in the IFRS for SMEs Accounting Standard and written for NPOs from internationally and nationally available material) 
  • modified (significantly rewritten from the IFRS for SMEs Accounting Standard) 
  • updated (aligned with new and modified sections from the IFRS for SMEs Accounting Standard) 
  • edited (minor editorial adjustments from the IFRS for SMEs Accounting Standard for consistency and terminology) 

 

  • Translations into Spanish and French will be available as official translations 
  • Translations into other languages can be considered. Contact us for further information. 

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Materials to support INPAS implementation

The Implementation Guidance provides non-authoritative information about applying the INPAS concepts and principles. It includes illustrative examples and illustrative financial statements.

At a Glance (coming soon)

INPAS At a Glance provide an overview of the topics prioritised for this edition of INPAS. They outline the scope and key requirements of these sections. They also provide useful information on other INPAS requirements.

Education materials

We are working on education materials in 2026. These materials are intended for NPOs, their auditors and advisors and will help NPOS with the application of INPAS sections.

Licenses to use INPAS

INPAS can be used free of charge for non-commercial purposes, such as preparing NPO general purpose financial reports. Any other use, including integration into products and services, requires a licence from INPRF. For further information contact us.