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International practices, beliefs and values in not-for-profit financial reporting

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

Abstract

Financial reporting is an important aspect of not-for-profit organisations’ (NPOs’) discharge of accountability, particularly for donations and funding. Nevertheless, NPO financial reporting lacks a global approach. Drawing on a multi-national study this paper utilises a pattern-matching methodology to capturing institutional logics. We uncover tension between NPO financial reporting practice (underpinned by symbolic and material carriers of a local financial reporting logic), and a majority believe that NPO international financial reporting standards should be developed and followed. Conflict between local practice and stakeholder beliefs is evident. Significant belief differences across key stakeholder groups will likely impact the NPO financial reporting development.HIGHLIGHTS The call for international standards for financial reporting for not-for-profit entities is strongly supported. Yet this project is beset by contested logics in respect of notions of the purpose of financial reporting, comparability and how reports should be prepared. Beliefs that powerful regulators and legislators are likely influential agents for internationalising NPO financial reporting change, conflict with notions that individual nations can effect change.

Suggested Citation

  • Carolyn J. Cordery & Louise Crawford & Oonagh B. Breen & Gareth G. Morgan, 2019. "International practices, beliefs and values in not-for-profit financial reporting," Accounting Forum, Taylor & Francis Journals, vol. 43(1), pages 16-41, January.
    • Handle: RePEc:taf:accfor:v:43:y:2019:i:1:p:16-41
    DOI: 10.1080/01559982.2019.1589906
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    References listed on IDEAS

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    1. Robert K. Larson, 2007. "Constituent Participation and the IASB's International Financial Reporting Interpretations Committee," Accounting in Europe, Taylor & Francis Journals, vol. 4(2), pages 207-254, December.
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    1. Ramesh Nair & Roshayani Arshad & Ruhaini Muda & Siti Aeisha Joharry, 2023. "Web-disclosure practices for transparency and the sustainability of non-profit organisations," International Review on Public and Nonprofit Marketing, Springer;International Association of Public and Non-Profit Marketing, vol. 20(1), pages 1-23, March.
    2. Ellie Norris & Shawgat Kutubi & Steven Greenland, 2023. "Cultural accountability in the annual report: The case of First Nations entities in Australia," Accounting and Finance, Accounting and Finance Association of Australia and New Zealand, vol. 63(4), pages 4453-4478, December.
    3. Cordery, Carolyn J. & Goncharenko, Galina & Polzer, Tobias & McConville, Danielle & Belal, Ataur, 2023. "NGOs’ performance, governance, and accountability in the era of digital transformation," The British Accounting Review, Elsevier, vol. 55(5).

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