Search starts for advisers to the Sorp Committee

The new stakeholder groups will help inform the next set of accounting rules for the charity sector

The committee charged with developing the Statement of Recommended Practice for charity accounts is looking for partners to help create the next Sorp.

The Sorp Committee, which advises on potential changes to the accounting rules, is looking for either individuals or organisations that have an interest in financial reporting in the charity sector to sit on stakeholder groups.

The new advisory groups were announced last month by the four charity regulators in the UK and Ireland as part of reforms to the make-up of the Sorp Committee.

As well as seven advisory groups, recommendations included a reduction in the number of Sorp committee members, a simpler Sorp for smaller charities and encouraging charities to make financial information on their websites and in press releases Sorp-compliant.

Members of the advisory groups being advertised today would consider a number of issues, including the information needed by users of charity accounts and whether the Sorp met those requirements.

Information on how to prepare annual reports and accounts and opportunities to simplify charity accounting are also in the remit of the stakeholder groups.

The closing date for applications is 31 January 2020.

Nigel Davies, joint chair of the Sorp Committee and head of accountancy services at the Charity Commission, said: "We are committed to helping charities meet public expectations, so we want to see an accounting framework that best serves the reader of the report and accounts and the wider public interest in the activities of charities.

"I encourage anyone with an interest to come forward to help develop improvements in reporting for the sector."

More information on how to apply is available here

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