The Non-Profit-Organizations (NPOs) are an important sector of the Country’s economy. The profession felt that the accounting framework specified for the commercial entities i.e. IFRS, AFRS for MSE and SSE do not adequately deal with certain aspects of NPOs operation and financial reporting requirements. Identifying the need of a comprehensive framework, the relevant committee of the Institute undertook the development task and is now pleased to expose the standard for comments of the members of the Institute.

Click here to download the full text of the exposure draft.

Members are invited for giving their comment on the exposure draft. Comments are helpful if they indicate the specific paragraph to which they relate, clearly explaining the issue(s), and providing a suggestion for alternative text or solution.

Comments may be submitted to the Directorate of Technical Services at dtscomments@icap.org.pk latest by August 30, 2014.

Directorate of Technical Services

Institute of Chartered Accountants of Pakistan