CHARITY REPORTING WITH SORP FRS 102CharitiesGAAPChangesReporting requirementsGovernment grantsBusiness combinationsRevenue recognitionMullen, TurloughAccountancy Ireland
However, those for England and Wales, the 2015 Charity (Account and Reports) Regulations, authorising use of the SORP 2015, have not been issued and are not expected to be issued soon. For England and Wales the current regulations are those issued in 2008, which stipulate that accounts must...
SORP are developed based on accounting standards, so with the new Financial Reporting Standard, FRS 102, there is a need to amend the charities Sorp. An Ipsos Mori research in 2012 revealed the importance of financial reporting to the public, which made public how charities are spending their ...