Charities SORP

Meeting of the Charities SORP-making body

Conference call - 11 May 2020

Present:

Joint Chairs:
Laura Anderson, Office of the Scottish Charity Regulator (OSCR)
Nigel Davies, Charity Commission England and Wales (CCEW)
Sarah Finnegan, Charity Commission for Northern Ireland (CCNI)

In attendance as observer(s):
Jenny Carter, Financial Reporting Council (FRC)
Jelena Griscenko, Charities Regulator (CR)

Purpose of the meeting:

To consider the next steps in the engagement strategy following the discussion at the preceding meeting of the Charities SORP Committee and review outstanding actions.

Agreed actions from the meeting:

• In view of the number and areas of interest of applicants, it was agreed to take forward six engagement strands with some strands and a further letter advising the next steps to be prepared (OSCR)
• Added as an annex to the letter the role of the convenor as amended by Committee feedback (CCEW)
• With respect to the six strands, each regulator to take designated strands and act to appointment the convenor(s) and act as the facilitator:
  • Trustees (CCNI)
  • Smaller charities and independent examiners (OSCR)
  • Professional and technical with two groups to run within this strand (CCEW)
  • Larger charities (CCEW)
  • Major funders and donors and government and public bodies (CR)
  • Academics and regulators and proxies for the public interest (OSCR)
• Agreed to recirculate the schedule of applicants for each regulator to confirm applicant details so that the strands can be populated (OSCR)
• Agreed once convenors are appointed that after an initial conference call with all the convenors that each regulator then leads in advising the next steps for the strand members.
• Agreed that prior to convening the engagement strands that the role of the convenor be explored at the next SORP Committee meeting (OSCR)
• Additional points agreed following the SORP Committee meeting:
  • That the request to change the advice on defining gross income as turnover for Information Sheet 6 is not accepted as the policy aim is for turnover to be the normal trading income of a company and that is equivalent to gross income
  • The request to convene a working group not proceed and instead the alternative approach suggested of endorsing emerging good practice be taken forward
• The topic of going concern was discussed but it was noted that there is a wealth of information from the FRC and other sources and so no further action considered necessary
• Agreed to bring a research paper to the October meeting on findings from accounts research as a catalyst for discussion (CCEW)
• Agreed to set up a progress meeting with CIPFA (CCEW)