The Charity Commission and the Office of the Scottish Charity Regulator, as the joint SORP-making body for charities, have developed two SORPS. For reporting periods starting on or after 1 January 2016 all charities must follow, the Charities SORP (FRS 102) that applies the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102). The Charities SORP (FRSSE) is only an option for financial years starting before 1 January 2016.
Following on from the updating of accounting standard FRS 102 by the Financial Reporting Council, a second draft SORP Update Bulletin has been issued for consultation. The principal effective date for these amendments to FRS 102 is for accounting periods beginning on or after 1 January 2019 and so the SORP must be changed to reflect them. The consultation on the SORP Update Bulletin opened on 20 February and closes on 4 April.
Tailor your chosen SORP to reflect your charity’s structure and activities
Find, save and print SORP modules or Update Bulletin 1 as individual PDF files
View, download or print a SORP as a single bookmarked PDF file
To see if a SORP applies to your charity, answer the following question:
Does your charity prepare accounts on an accrual basis?