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IFR4NPO to INPRF 

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What was IFR4NPO?

The International Financial Reporting for Non-Profit Organisations (IFR4NPO) Project was established in 2019 to develop the world’s first internationally applicable financial reporting standard for Non-Profit Organisations (NPOs) by:

  • bringing together a fragmented sector to develop a single set of guidance that could be used internationally
  • engaging with people from diverse stakeholder groups, nationalities, geographical locations, ethnicities and cultural backgrounds
  • establishing the credibility and validity of the standard development process and the quality of the final product

 

Leadership & funding

The Project was led by Humentum and CIPFA in partnership with funding from:

  • The Ford Foundation
  • The Open Society Foundation and
  • The Oak Foundation

By the sector, for the sector

Both Humentum and CIPFA are themselves non-profit organisations.

  • As a charity with a Royal charter, CIPFA has credibility and relationships in the accounting profession, among standard setters, professional accountancy organisations (such as national institutes).
  • As an NGO, Humentum has credibility and relationships in the non profit sector, among donors, INGOs and local NPOs.

Working in partnership, they were able to bring together the sector and the profession.

 

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Why was the project needed?

NPOs face unique financial reporting challenges, including reliance on donor funding and mission-driven operations. An international financial reporting standard for NPOs offers a globally consistent, credible framework that reduces inefficiencies and administrative burdens while improving financial reporting quality. It is needed to:

  • strengthening trust and global credibility — unlocking greater impact and sustainability. 

  • making it easier to measure and manage financial sustainability, comply with donor reporting requirements, and attract quality funding.

  • facilitating more informed funding decisions, and streamlined accountability for grants. 

  • for preparing and auditing non-profit financial statements, reducing ambiguity and increasing quality. 

The journey

2014

International research report 

2016

Non Profit Working Group of the International Forum of Accounting Standard Setters (IFASS) created 

2019

IFR4NPO Project is born

Jan 2021

Consultation Paper published 

November 2022

Exposure Draft 1 published 

September 2023

Exposure Draft 2 published 

May 2024

Exposure Draft 3 published 

September 2025

International Non-Profit Reporting Foundation (INPRF) created 

October 2025

INPAS published 

Addressing the sector’s needs

The most notable achievements of the IFR4NPO project were:

Developing INPAS

The first international standard for NPOs, developed according to rigorous ‘due process’ for standard setting.

Learn more about due process

Building a global movement

15,000 stakeholders in nearly 170 countries, bringing both the accounting profession and the non profit sector together to solve the challenge.

Meet the Team

Securing the legacy

INPRF now provides a long-term home for INPAS that secures its ongoing maintenance and development. It also provides the means to support the adoption and implementation of INPAS internationally, while continuing to strengthen our stakeholder engagement.

INPRF will enable the aspirations of the IFR4NPO project to be realised.

Find out more about INPRF
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