Charity News: Charity model accounts
There are no changes to the Charity SORP to report on in this edition of Charity News, but those preparing charity accounts might be interested to know that the model accounts published by the SORP Committee have been updated. These provide examples of how charity accounts should be presented in order to comply with the latest reporting requirements for charities, including the latest version of the SORP that was published in October 2019.
Two versions of the model accounts are available, the Arts Theatre Trust which is an incorporated charitable company and the Rosanna Grant Trust, which is an unincorporated trust. These examples are developed for charities in England and Wales. The England and Wales examples are being reworked by OSCR for reporting in Scotland.
The SORP website notes that additional model accounts are being prepared that provide further disclosure guidance on how charities should report on the implications of the COVID-19 pandemic.
Our full Charity Newsletter can be found here.
For more information on our charity services please visit our website or contact Frank Harling on 01932 830664 or firstname.lastname@example.org