10 Mar 2014
The Big Lottery Fund has announced a new £150m fund to invest in community-led enterprises across England, the largest ever fund of its kind.
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.
The Shadow Sorp Committee headed by BDO partner Don Bawtree has expressed unease about the length and complexity of the first draft of the new Sorp, and suggested that it might be better reduced to a principles-based statement.
With the Sorp consultation closing next month, now is the time to make your views heard, says Rui Domingues.
Perhaps the wider message for us all is that - if you ask for help at the 11th hour, you are already a few hours late!
Gareth Morgan offers a beginner's guide to the new Sorp, currently out for consultation.
Charity accounting expert Don Bawtree has assembled an independent, cross-discipline ‘shadow Sorp committee’ that will scrutinise the new draft Sorp and sector responses to it, and produce its own assessment to inform the final version.
The Financial Reporting Council, which oversees financial reporting in the UK and Ireland, yesterday agreed that the proposed new charities Sorp can be issued for consultation with the sector.