Should nonprofits follow financial reporting standards internationally?
What is it about?
This paper is the third that analyses the data we collected for the CCAB study as to whether there should be a set of international standards for nonprofit entities. In this paper we analyse the need for nonprofits to discharge accountability and how international accounting standards could assist that. Any standards would need moral legitimacy to do so.
Why is it important?
There are currently no international accounting standards for nonprofit entities (but there are for for-profit and public sector entities). This study analysed whether there was a need and indeed whether a standard setter would emerge. There is a need to develop standards for better accountability and for nonprofits to follow them.
The following have contributed to this page: Professor Carolyn J Cordery