Choosing the right SORP

The Charity Commission and the Office of the Scottish Charity Regulator, as the joint SORP-making body for charities, have developed two SORPS, one to support the Financial Reporting Standard for Smaller Entities (FRSSE) and one to support the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102).  

Second FRSSE SORP example reissued

The Joint-SORP making body has made a change post publication to the second example illustrating Charities SORP (FRSSE). The example is for a fictional arts charity preparing consolidated accounts.

Light bulbTo see if a SORP applies to your charity, answer the following question:

Does your charity prepare accounts on an accrual basis?