Charities urged to engage on new reporting proposals

A consultation on the new draft Statement of Recommended Practice (SORP) for charity accounts has been launched by the Charity Commission for England and Wales and the Office of the Scottish Charity Regulator. The SORP has a new modular style that they hope will make the recommendations easier for charities to navigate and identify the parts that apply to them.

Commission news release http://www.charitycommission.gov.uk/news/sorp-consultation-090713/, OSCR’s version http://www.oscr.org.uk/news-and-events/latest-news/regulators-consult-on-sorp/, while there is a dedicated charity SORP website at http://www.charitysorp.org.

Charity Finance Group is urging charities to engage on the new reporting guidelines, and accountants Baker Tilly have a “Two minute guide” on what is important in the proposals.