Charities SORP

Application guidance for charity accounting

About the SORP

A Charities SORP provides recommendations for accounting and reporting, in particular, how accounting standards should be applied in the context of charities and how to account for charity specific transactions. The aim of a SORP is to bring consistency of accounting treatment within a particular sector and to facilitate accounts to be prepared to give a ‘true and fair’ view.

A Charities SORP applies to charities generally in England and Wales, Scotland, Northern Ireland and the Republic of Ireland unless a more specific SORP applies (such as for the Further and Higher Education sector or Registered Social Landlords).

Each SORP provides a mechanism enabling charities to meet the legal requirement for their accounts to give a true and fair view and provides consistency in the sector’s interpretation of accounting standards. Each SORP also provides recommendations for annual reporting that are relevant to sector and stakeholders needs and are in line with wider developments in reporting.

Each SORP is subject to approval by the Financial Reporting Council (FRC) and once approved forms part of UK-Irish Generally Accepted Accounting Practice (GAAP).

For more information about the SORP making body and the SORP development process please view the SORP Committee pages.