15 May 2014
The Charity Commission has stated that it expects the new Sorp to be published by the end of June 2014, with it taking effect in 2015.
The Directory of Social Change has recommended to the Sorp Committee that grantmaking trusts should be obliged to provide details in their accounts and annual report of all grants they have made.
CFG opposes the proposal in the new Sorp that charities ought to be required to disclose the job title and salary of the highest earner within their accounts.
Tax avoidance may be legal, but it is still obnoxious. And the rest of us pay additional tax as a result. If I were asked whether the accountants and legal experts who set up these schemes are 'fit and proper persons', I know what my answer would be.
The Shadow Sorp Working Party has identified a number of areas in the draft of the new accounting framework for the charity sector “where an opportunity has been missed”.
The sector needs strong financial accountability, but the format of the proposed new Sorp is unlikely to deliver it, fears Don Bawtree.
Charity finance professionals that want to keep the existing Financial Reporting Standard for Smaller Entities should make sure they respond to the Sorp consultation, says Helena Wilkinson.
8 Jul 2014
7 Oct 2014
26 Nov 2014