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Regulators invite feedback on Charities SORP

A consultation is being launched today to seek views on how best to reform the process for developing the Statement of Recommended Practice (SORP), and to make recommendations for any necessary changes to ensure the SORP remains fit for the future.

This follows the recent expansion of the SORP-making body that sets the framework for charity financial reporting to incorporate the Charity Commission for Northern Ireland with the Charities Regulatory Authority for the Republic of Ireland as observer.

The SORP-making body welcomes feedback to explore changes to the way the Charities SORP is developed, to ensure it continues to serve the information needs of those with an interest in the charity sector and the sector itself.

Judith Hayhow, Head of Support Services at the Office of the Scottish Charity Regulator said: “If the Charities SORP isn’t right, the accounts that charities produce won’t be right for those who need to use them. That’s why we as regulators are committed to opening up and inviting feedback on the way in which the SORP is developed.”

The article above can be found in full here.

The full consultation document can be found here.

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The Service Charity Sector and the coronavirus outbreak

For the latest information and guidance on the Service Charity Sector and the coronavirus (COVID-19) outbreak, please click here