‘Simplify accounting requirements for smaller charities,’ expert panel recommends
An expert panel has called for simplified accounting requirements for smaller charities, in a report which looked into how the sector’s accounting requirements are developed.
The panel, which was set up by charity regulators to review the Statement Of Recommended Practice (SORP), opened a consultation in November to hear views on how the process and requirements could be improved, and has now responded by publishing a report with its recommended changes.
The report calls for a “refocusing” of the Statement Of Recommended Practice (SORP) and greater simplification of reporting requirements for smaller charities, with more support for trustees.
Read the report here