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.
A consultation is planned for later this month on the way the SORP is developed. Details to be posted including how you can take part. To view the second SORP Update Bulletin that keeps the SORP up to date with changes to UK-Irish accounting, view the link below. Please read the Bulletin now because it is in effect from the date the Bulletin was published.
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?