15 May 2014
The Northern Rock Foundation will close after it failed to reach a funding agreement with Virgin Money, the new owner of the Northern Rock bank.
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.
Charities and social enterprises will get to scale in health - if they are given a chance. The improvements that they can deliver are huge.
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