Charities SORP

Application guidance for charity accounting


SORP discussion – Your comments and ideas sought

The Joint SORP-making body intend to synchronise the next major review of the SORP(s) with the planned review of UK-Irish Generally Accepted Accounting. The Financial Reporting Council have yet to announce their plans and the timing of this triennial review of FRS 102.

The role of the trustees' annual report and accounts is to provide relevant information to donors, funders, financial supporters and other stakeholders with an interest in a charity's work. The objective of the trustees' annual report (the report) and accounts is to provide information about a charity's financial performance and financial position that will be useful to a wide range of stakeholders in assessing the trustees' stewardship and management of charitable funds, and to assist the user of the accounts to make economic decisions in relation to the charity.

In planning for the next review, your comments and ideas are sought on what changes might be needed to the trustees' annual report and in the notes to the accounts. We now intend to publish this discussion paper in early 2016. To find out more view the discussion paper once issued:

  • Discussion paper to be added in early 2016

Submitting your comments

Once you have read the discussion document please submit your comment via the CIPFA Secretariat web page. The link to the web page will be added once the discussion opens.