The Sorp revision: Annual report

By finance expert Don Bawtree

Don Bawtree
Don Bawtree

The Sorp still requires charities to produce comprehensive annual reports. There is greater emphasis on the language of impact reporting; charities should identify the difference they have made for beneficiaries and, if practicable, explain any benefits to society as a whole.

Larger charities now need to report objectives and achievements in terms of short-term and long-term aims, discuss the basis for measuring success in the reporting period and explain the use of social investments, grants and volunteers.

Charities will need to be more specific on reserves, setting out total and restricted funds, designations, commitments, funds represented by tangible fixed assets or performance-related investments and year-end reserves.

Where a charity has no reserves policy, trustees will need to explain why they consider it unnecessary.

The risk statement now refers to principal risks and uncertainties facing the group, with a summary of plans and strategies to address them.

Have you registered with us yet?

Register now to enjoy more articles and free email bulletins

Register
Already registered?
Sign in
Follow us on:

Latest Jobs

RSS Feed

Third Sector Insight

Sponsored webcasts, surveys and expert reports from Third Sector partners

Markel

Expert hub

Insurance advice from Markel

How bad can cyber crime really get: cyber fraud #1

How bad can cyber crime really get: cyber fraud #1

Promotion from Markel

In the first of a series, we investigate the risks to charities from having flawed cyber security - and why we need to up our game...

Third Sector Logo

Get our bulletins. Read more articles. Join a growing community of Third Sector professionals

Register now