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Charity SORP round table

1 Dec 08

The ICAS Charities Committee, the Scottish Charity Finance Directors Group and the Office of the Scottish Charity Regulator held a round table for 30-plus preparers, independent examiners and auditors of charity accounts

by Christine Scott

The event was one of a series throughout the UK for stakeholders in the charity sector to discuss the Charities SORP (statement of recommended practice). Feedback will be passed to the SORP committee.

Those at the event supported the Charities SORP, particularly its guidance on preparing the trustees’ annual report. However, they argued for a re-working of the document to focus on the needs of smaller charities.

Concerns were raised over the ability of charity trustees and other stakeholders to understand the complexities of SORP accounts. The disconnection between the management accounts presented to trustees during the year and the statement of financial activities, required by the SORP, was seen as the main barrier to understanding accounts.

Comments and suggestions on SORP can be sent to: SORP.TheFuture@charitycom

Christine Scott is Assistant Director, accounting and auditing, with ICAS.

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