Charities SORP

Engage in developing the next SORP

The SORP-making body launched the new engagement process on 8 July with an initial conference call with the volunteer convenors of each of the six engagement strands. The aim of the new engagement process is to draw in views and ideas on improving the SORP early on in the development process. To learn more about the work being undertaken and how this work is informing the thinking of the Charities SORP-making body and advisory Charities SORP Committee, view the linked engagement page for a strand by clicking on the link in the table below. Each of the six strands has its own convenor and engagement page. If an organisation has agreed to be a convenor, the name of the organisation is given, followed by that of their nominee who is acting as a volunteer convenor. A biography of each convenor can also be viewed by clicking on their name in the table below.

*Larger charities are defined by the SORP as those charities with a gross income exceeding £500,000 (UK) or 500,000 euros (Republic of Ireland) in the reporting period. For background on the origin of the SORP in 2014 due to changes in UK-Irish GAAP refer to See Why the SORP had to change for more information.

Each convenor will decide how best to take forward the engagement activities for their engagement strand including decisions as to the holding of any engagement activities and sharing of contact information. Each strand has its own page which is accessed by clicking on the link in the table above. You can find more about the work each strand is doing, how they have chosen to take forward their input to the next SORP and about any opportunities to get involved by viewing their page.

Briefings on the topics selected for review – 2021

To assist the engagement strands, the SORP-making body and CIPFA are producing a background briefing for each topic selected by the SORP Committee for review in developing the new SORP. The topics were chosen from the many proposals shared by the engagement strands from the exploration stage which concluded in February 2021. The briefings are published subsequently to the SORP Committee concluding its deliberations on that topic.

To view the published briefing access the Engage briefings page.

Research resources informing the development of the SORP

To assist the engagement strands and inform the work on developing the next SORP a number of resources are being used as context for debate and discussion.

The retiring SORP Committee (2015 to 2019) worked with the SORP-making body on a consultation exercise on the content of the SORP in 2016:

• 2016 research exercise overview
• 2016 research analysis of feedback

The retiring Committee also convened four working groups to look at key challenges for the SORP. The groups met independently of the SORP-making body and comprised Committee members only supported by the CIPFA Secretariat. The conclusions of each group were referred back for discussion in the full SORP Committee. The conclusions of these groups will be one of the first resources used to open the debate about how the SORP should be changed to better meet the needs of those reading charity reports and accounts and those preparing them.

SORP Committee working groups findings: PDF | Microsoft Word

A detailed exploration of the needs of the users of reports and accounts and the challenges facing the SORP was undertaken in 2008-09. This helpful reference material informed the development of the current SORP.

Charity reporting and accounting - taking stock 2009 PDF

Developments in UK-Irish Generally Accepted Accounting Practice affecting the SORP

The FRC is gathering views on the changes needed to the accounting standard FRS 102.

This exercise closes on 31 October 2021 and for more information view the link: https://www.frc.org.uk/news/march-2021/frc-requests-views-to-inform-the-periodic-review-o