The Sorp revision: Sorp modules

By finance expert Don Bawtree

Don Bawtree
Don Bawtree

The proposed Sorp splits into requirements for smaller charities and those that either have to or choose to follow the larger charities regime (income more than £6.5m).

The new proposals are set out differently from the old Sorp. The new Sorp is aimed mainly at smaller organisations, with the extra requirements for larger ones following, all in separate modules. Charities need to understand which sections apply to every charity or are specific to them, and which are non-negotiable because of the new accounting rules.

The modular approach is designed to make it easier to use. Some modules are mandatory and some "elective", depending on what is relevant. Mandatory modules cover areas such as fund accounting and income treatment, and apply to all charities. Elective modules include accounting for special assets and accounting for branches and groups.

During the consultation process, everyone needs to check which requirement applies to whom, and seek to change only those items that can be changed.

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