SORP: ACF responds to consultation
ACF has responded to a consultation on the development of the charity Statement of Recommended Practice (SORP), the document which sets the standards of charity accounting. In our response, we recommend a better balance on the advisory board between those who read accounts and those who prepare them, and urge the review to consider greater representation of foundations that can feed in vital experience and expertise. We also ask that the review considers the size and resources of the charities to which the SORP applies, and making governance procedures more transparent.
The consultation forms part of an independent review, led by Prof Gareth Morgan, of the governance of the charity SORP and its engagement with key stakeholders. It does not address the content, structure or purpose of the SORP. Find out more here.