Should NPOs follow international standards for financial reporting? A multinational study of views

Oonagh B. Breen, Louise Crawford, Carolyn J. Cordery, Gareth G. Morgan

Research output: Contribution to journalArticle

Abstract

Financial reporting is an important aspect of not-for-profit organisations' (NPOs')
accountability. Globally, numerous and varying regimes exist by which jurisdictions regulate NPO financial reporting.
This article explores whether NPOs should be required or expected to follow sector-specific international financial reporting standards. We investigate stakeholder perceptions on the nature and scope of any such developed standards, interpreting our findings through the lens of moral legitimacy. Using an international online survey of stakeholders involved in NPO financial reporting, we analyse 605 responses from 179 countries.
Based on our findings, we argue that diverse stakeholder groups, especially those who are involved with NPO financial reporting in developing countries, are likely to grant moral legitimacy to developed NPO international accounting standards if the consequences are to enhance NPO accounting and accountability information, subject to agreement as to whether all or only NPOs of a certain size should comply and whether any such standards should be mandatory.
Original languageEnglish
JournalVoluntas
Early online date24 Sep 2018
DOIs
Publication statusE-pub ahead of print - 24 Sep 2018

Bibliographical note

© Springer Nature B.V. 2018. The final publication is available at Springer via https://doi.org/10.1007/s11266-018-0040-9

Keywords

  • Not-for-profit accounting; international standards; international surveys; moral legitimacy

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