The Consultative Committee of Accountancy Bodies (CCAB) - made up of the ICAEW, ACCA, ICAS, CIPFA and Chartered Accountants Ireland - has appointed Sheffield Hallam University (SHU) to undertake a project to identify current local accounting practices for the not for-profit-sector internationally.

The CCAB intends to use the results of the project to establish whether or not there is a need for the development of an international financial reporting framework, guidance or standard(s) for the sector.

SHU will co-lead the project with colleagues from the University of Dundee, with further support from University College, Dublin and Victoria University of Wellington, New Zealand.

A Steering Committee comprising of experts from accountancy professional bodies, charity umbrella bodies, public practice firms and international charities has also been set up to oversee and guide the research and promote its outcomes.

The research team is expected to publish a survey in early November 2013 for completion by organisations and individuals around the world.

CCAB chairman, Anthony Harbinson said that the project supports the CCAB's work on matters of policy and regulation in the public interest.

'Every country has a not-for-profit sector. This innovative project will seek to establish definitions and current approaches to financial reporting by the sector in different jurisdictions around the world. Ultimately, the aim is to promote discussion on possible ways forward,' said Harbinson

SHU's professor Gareth Morgan of Sheffield Hallam University they were delighted to have have been appointed to deliver the project.'We look forward to working with CCAB and the Steering Committee in presenting findings that will contribute to the debate on financial reporting for the not-for profit- sector,' said Morgan.

The findings of the project will be published in the first quarter of 2014.