CIPFA and Humentum announced today that Kris Peach has been appointed as the new chair of the IFR4NPO (International Financial Reporting Standards for Non-Profit Organisations) project Steering Group.
The Steering Group, which has been chaired for the last three years by Pamela Monroe-Ellis, Auditor General of Jamaica, oversees the governance of the IFR4NPO project. IFR4NPO is a joint initiative being delivered by CIPFA and Humentum to develop the first ever international financial reporting guidance for non-profit organisations.
Kris Peach’s appointment comes at a crucial time for the project, with the first Exposure Draft of International Non-Profit Accounting Guidance (INPAG) already issued, and the second and third due for release later this year. She brings a wealth of experience in leadership and governance. As the former chair and CEO of the Australian Accounting Standards Board Kris has extensive knowledge of national and international financial reporting and accounting standard setting.
Rob Whiteman, CIPFA CEO, said:
“I’m delighted that Kris has accepted this role. Her passion for high quality financial reporting and first-hand experience of the issues that non-profit organisations face will be a huge asset to the project. I would also like to take this opportunity to thank Pamela Monroe-Ellis for her valuable support and leadership steering the project over the last three years.
“I’m looking forward to seeing this truly world-leading initiative progress and develop further over the coming years under Kris’ strong and capable leadership.”
Kris Peach, IFR4NPO Steering Group Chair, said:
“The IFR4NPO project is so important as it will give non-profits everywhere confidence in their financial reporting and help them build trust with their stakeholders.
“I think it’s critical to establish the right governance and strategic relationships to ensure INPAG will have sufficient credibility and enforceability to gain international acceptance and adoption, and that it can form a strong basis for future improvements in non-profit sector accountability.”
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