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Consultations held on draft SORP

A new charities SORP is required as part of changes to UK Generally Accepted Accounting Practice in 2015. For this purpose, 26 consultation events have been held across the country by the Charity Commission. The aim was to provide charity representatives with an opportunity to put forward any ideas for improvements and changes to the draft.

Uptake in the initiative has been strong, with over 1,600 representatives attending, and over 160 charities presenting their responses to the draft put forward to them. This high level of participation will contribute to the objective to produce a new SORP which better serves the sector, the donors, and the public.

The new SORP is expected to be published by the end of June 2015, and is due to come into effect for financial years beginning on or after 1 January 2015. To find out more about the results of the SORP consultation, a podcast recommended by the Charities Commission is available here: http://www2.accaglobal.com/uk/members/publications/podcasts/charity_sorp

 

 

Date: 12th November, 2013
Author: Wendy Bambrick

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