This blog will cover the second phase of the International Non-Profit Accounting Guidance by looking at Exposure Draft 2 and its proposed guidance for nonprofits. The goal of the INPAG project is create a global nonprofit financial reporting framework. ED2 focuses on providing guidance that amends current IFRS for SMEs which will serve as the base of the new guidance. The ifr4npo website has great explainer videos that details the proposals. Comments are due March 15, 2024.

SCACPA is excited to partner with Galasso Learning Solutions and the Genuine Learning Blog for real-time A&A updates and answers for SCACPA members.

With over 15 years of experience in the accounting profession, Melisa Galasso designs and facilitates courses in advanced technical accounting and auditing topics, including not-for-profit and governmental accounting. She closely monitors regulatory bodies for changes in auditing and accounting guidance and serves as a subject matter expert in implementing the updated guidance.