Consultation opens on charity accounting changes

A consultation on changes in charity accounting standards has started. Changes to UK-Irish accounting practice due to be implemented by the Financial Reporting Council from 1st January 2016 mean that the Charities SORPs (Statements of Recommended Practice) will need to be updated.

The Charity Commission for England and Wales and Office of the Scottish Charity Regulator are the joint SORP-making body. They are consulting on three different matters:

  • Charities SORP (FRS 102)
  • Replacement for the Charities SORP (FRSSE) for smaller charities
  • A revised definition of ‘larger charity’ in the SORPs

See the Charities SORP website consultation page. Deadline for responses 18th September.

Also see: Charity Commission news release or OSCR news item. Our earlier news item trailing the consultation.

The Charity Commission for Northern Ireland has said

Under current charity law in Northern Ireland, charities are not required to prepare their accounts in accordance with the Charities SORP. However, this is set to change with the Department for Social Development expected to consult on new accounting regulations in autumn 2015.

And of course charities that are also registered as companies must comply with the requirements of company law, which usually brings the SORP into play.


We will update this item with any useful commentary on the proposals that emerges.