Charity SORP could split in two

Civil Society Media reports that Charity Commission professionals are suggesting that the current charity SORP accounting standard could be replaced by two separate sets of guidance when a new version is published this year. The Charity Commission and OSCR might introduce one based on the Financial Reporting Standard for Smaller Entities (FRSSE) and one based on FRS 102 (mainly for larger organisations).

See http://www.civilsociety.co.uk/finance/news/content/16879/.