The SORP making body of the Charity Commission and the Office of the Scottish Charity Regulator is advised on the SORP by the SORP Committee.
The SORP Committee has a programme of meetings to consider how the SORP should be developed and the next SORP Committee meeting will be hosted by the Charity Commission and take place on 10 May 2012. The UK Accounting Standards Board has issued new proposals on the future of UK accounting on 30 January 2012 which will change UK Generally Accepted Accounting Practice (UK GAAP), including accounting by charities. The SORP Committee is now drafting the next SORP to reflect the new UK accounting framework. The new SORP is likely to take the form of modules rather than be a single published book. To avoid causing confusion the interim discussion drafts of each SORP module will not be posted on the internet. Instead the completed draft SORP in modular form will be made available for public consultation in due course. The exact timing of that public consultation depends on the publication by the Accounting Standards Board (ASB) of the final standards and it settling the implementation date for the new UK GAAP.
The ASB’s latest proposals, which are out for consultation until 30 April 2012, can be viewed via the ASB website.
Agenda and papers for the 14 March 2012 meeting
Agenda and papers for the 8 December 2011 meeting
Agenda and papers for the 8 November 2011 meeting
Agenda and papers for the 12 October 2011 meeting
Agenda and papers for the 8 September 2011 meeting
Submissions to the consultation on ASB plans for a new reporting standard for public benefit entities (closed 31 July 2011)
The ASB consulted on a draft financial reporting standard for public benefit entities as part of their plans to change UK GAAP. The draft standard set out the accounting treatment for: concessionary loans, property held for the provision of social benefits, entity combinations, impairment of assets, funding commitments and income from non-exchange transactions (such as donations, gifts or grants). The next charities SORP must follow the practice set out in this standard.
Earlier submission to the ASB consultation on the future of financial reporting (April 2011)
The ASB consulted upon proposals to bring UK GAAP in line with International Financial Reporting Standards. These included a tiered approach to financial reporting by size and the retention of the charities SORP.
Agenda and papers for the 28 July 2011 meeting
Agenda and papers for the 7 June 2011 meeting
Agenda and papers for the 13 May 2011 meeting:
Agenda and papers for the 5 April 2011 meeting:
Agenda and papers for the 10 March 2011 meeting:
Adobe Reader® is required to view or print PDF documents. For information on downloading Adobe Reader®, please see 'Help with PDF files'.
Previous submission to the ASB consultation on the future of UK GAAP (February 2010)
Previous SORP Committee Meetings
Agenda and papers for the 7 February 2011 meeting:
List of archived SORP Committee agendas and papers for previous meetings.