Overview

Statement Of Recommended Practice On Accounting And Reporting By Charities (SORPs)

The revised STATEMENT OF RECOMMENDED PRACTICE ON ACCOUNTING AND REPORTING BY CHARITIES (SORP) was issued by the Charity Commission in March 2005 and was reprinted as a second edition in May 2008 with its legal references updated – to take account of the new legislation.

Its recommendations remain unchanged and therefore accounting policy notes should still refer to SORP 2005.

The SORP Committee consider how developments in accounting standards, law etc will impact on the SORP and recommend any changes.

International Financial Reporting Standards do not apply.

A revised SORP is not anticipated before 2010/2011.

For further information email us at charities@moco.co.uk