Not-For-Profit Accounting: The International Challenge – New Zealand’s Response

International constituents have, for many years, been requesting a unique set of accounting standards for Not-For-Profit (NFP) entities. 

This has resulted in the formation of several international committees/workgroups considering this challenge. 

Ian Carruthers, Chair of the IPSASB, is a member of several of these committees, Chair of the International Forum of Accounting Standard Setters (IFASS) working group and led the technical team that developed the UK Charities SORP. He will outline the international scene and the current thinking on this challenge. 

Kimberley Crook, NZASB Chair, will outline how we addressed this challenge in NZ, in a typical and somewhat unique NZ way. 

Julia Fletcher, Manager of Engagement and Business Improvement at Charities Services, has been at the centre of the implementation of the new accounting framework for NZ’s 27,500 charities.  She will outline how the NZ solution is working in practice and how it is meeting this international challenge.