Can the UK model for charity reports and accounts provide a basis for worldwide NGO accountability?
Over the past 20 years the UK has developed a model for accounting and reporting by charities which has proved to be robust and useful. The model has been pioneered mainly by accountants who were dissatisfied with applying the business model of accounting to charities but they have been assisted by pressures for more and better accountability and transparency. The UK regime has been based on adaptations of UK accounting standards (UK GAAP) which have been made possible because of the UKs accounting standards board practice of introducing industry interpretations of standards. The main driver for a UK charity reporting regime has been that business standards of accounting do not fit charities. The same problem arises worldwide, but there are currently (apparently) no generally accepted global mechanisms to allow the preparation and acceptance of specialist NGO standards. This is especially true of the new International Accountancy Standards which are entirely based on profit seeking ent
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- Aside from accounts, will there be published documents aimed at accountability, similar to business plans and annual reports?
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