Charities back international accounting standard

Charities back international accounting standard: Charity accountants around the world support the development of an international accounting standard for non-profit organisations, according to a report published today.

The report, entitled International Financial Reporting for the Not-for-Profit Sector, was commissioned by the Consultative Committee of Accountancy Bodies as part of a study into international accounting standards. The report is based on 605 consultation responses, mostly from charities, accountants and regulators, representing organisations working in 179 countries