Choosing the right SORP

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.

Bids now invited to provide the SORP secretariat and to publish future SORPs

The SORP-making body is seeking bids for both the provision of the SORP Secretariat and for publishing the SORP. The SORP Secretariat provides the technical and administrative support to developing the SORP. The SORP publisher makes available for sale hard copies of the SORP. The tender process closes at 5.00pm on 24 August 2018. 

Light bulbTo see if a SORP applies to your charity, answer the following question:

Does your charity prepare accounts on an accrual basis?