Fundraising Regulator asks to be involved in setting accounting rules

15 Feb 2019 News

The Fundraising Regulator has asked to be included on the Statement of Recommended Practice (SORP) committee, in its submission to a consultation on how to reform the body.

The consultation, which closed on 4 February, came after mounting pressure over the past 18 months to reform the existing process.

The Fundraising Regulator said in its response it was primarily interested in the SORP to ensure the regulator’s funding is correct.

It is funded by a levy on charities with a fundraising expenditure over £100,000. It said this meant that it is “important that SORP accounting reporting is as clear as it can be” so the levy is fair.

It requested to be included in the membership of both the SORP making body and the SORP advisory committee to help ensure it could fulfil its functions.

The response said: “Given the importance of the SORP in fulfilling our regulatory responsibilities and to ensure these are adequately reflected in the SORP-making considerations of the committee, we ask that the committee consider including the Fundraising Regulator in its membership.”

The Fundraising Regulator also said that it was invested in SORP as it uses charity accounts, underpinned by SORP rules in making investigations.

It comes after charity representative bodies like NCVO and The Directory of Social Change called for reforms to SORP, earlier this month in their consultation responses.

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