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/ » Continue reading news item ... “Charities urged to engage on new reporting proposals”

Charity accounting changes and advice

Directory of Social Change have a piece written by Kate Sayer (of charity accountants Sayer Vincent) on ‘Changes to Charity Accounting’, laying out the background and timetable for the changes to the Statement of Recommended Practice (SORP) for charities, last issued in 2005, http://www.dsc.org.uk/PolicyandResearch/News/Changestocharityaccounting.

The Charity Commission have also recently put on their new website the fourth in a series of information sheets on the Statement of Recommended Practice, which explains why charities can’t report under both SORP 2005 and FRS 102.