Falling rag prices likely to cost charities tens of millions
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Falling rag prices likely to cost charities tens of millions

1 Sep 2014 | David Ainsworth

Charities are likely to lose tens of millions of pounds this year from a fall in the price of recycled clothing and other textiles, known as rag.

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Falling rag prices likely to cost charities tens of millions

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10 per cent of charities with net liabilities in 'significant financial difficulty', finds Charity Commission

The Charity Commission has identified 1,348 large charities which have current debts greater than funds available to cover them, with 10 per cent of those it analysed found to be in 'significant financial difficulty', according to its latest accounts monitoring review.

Sightsavers income up 26 per cent to just under £200m

The income of international development charity Sightsavers is up 26 per cent to just under £200m since 2012, according to its 2013 accounts.

New accounting Sorps are finally published

The two new Statements of Recommended Practice (Sorps) that will apply to all charities that prepare accruals accounts for years beginning on or after 1 January 2015, have been published today.

Sorp approved for publication, could be available next month

The charities Statements of Recommended Practice have been approved for publication by the Financial Reporting Council, the Charity Commission and the Office of the Scottish Charity Regulator announced today.

Congratulations to the RNLI - this only goes to prove that working on long term (and short term for that matter) legacies really pays dividends in the end.

» RNLI legacy income rises to record £118m

Ray Jones

Ray Jones, head of accountancy policy at the Charity Commission, has taken voluntary redundancy and will step down in the summer after over a decade in the role.

Financial Reporting Council to investigate Cup Trust's auditors

The Financial Reporting Council has extended its investigation into the Cup Trust to include its auditors, Hillier Hopkins LLP.

Regulators recommend two Sorps but reject disclosing chief executive pay

Two separate Statements of Recommended Practice are needed to govern charity accounts, according to a consultation analysis published today by the Charity Commission and the Office of the Scottish Charity Regulator.

Charities back international accounting standard

Charity accountants around the world support the development of an international accounting standard for non-profit organisations, according to a report published today.

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