Development of the SORP

We have had the current SORP for a few years now and the next version is currently in development.  Many of the Trustees we speak to are still not satisfied that charity accounts reflect the activity within their charity and are providing the correct information to readers and stakeholders.  The committee responsible for developing the SORP are looking for engagement partners to develop stakeholder groups to gather feedback and ideas for changing the SORP.  The partners can be individuals or organisations, giving charities and Trustees the opportunity to be involved.  The Groups will be asked to consider:-

  • the information needs of users of charity annual reports and accounts
  • how far the SORP needs to change to meet those needs
  • what information users of the SORP need to prepare for good annual report and accounts
  • opportunities to simplify and remove unnecessary reporting and ensuring technical compliance with the UK-Irish Generally Accepted Accounting Practice (GAAP).

The closing date for applications is 31 January 2020.

If you have any questions on the development of the SORP, please do not hesitate to contact one of the charity specialist team at MHA Moore and Smalley.

https://www.gov.uk/government/news/committee-seeks-views-on-charity-accounting-framework