BusinessCompany NewsCharities get new reporting bible

Charities get new reporting bible

Charities are being urged by the Charity Finance Directors Group to account for voluntary staff hours in a radical shake-up of the sector.

Link: Lack of charity sector controls worry FDs

The CFDG has published a 68-page report into measures it feels are necessary to improve charity reporting. The group is hoping that the suggestions will be included in the next full revision of the statement of recommended practice (SORP) currently being worked on.

‘We have been working with the Charity Commission and hope the recommendations influence it and be included in the new SORP,’ said Shirley Scott, chief executive of the CFDG. She said that including voluntary staff in the reports would not be a huge burden to charities because most have the information readily available.

While the measure is set to be the most radical suggestion in the report, changes have also been suggested to how management and administration costs and fundraising activities are reported. Charities minister Fiona MacTaggert said that the sector would benefit from increased public confidence, especially from funders and donors. ‘The government is keen to see moves towards greater consistency, clarity and transparency in reporting by charities,’ she said.

The CFDG is inviting consultation on its report Inputs Matter: Improving the Quality of Reporting in the Charity Sector and is asking for feedback from the sector and interested parties by 16 January 2004. The group is also hoping that government departments will standardise the format of accounts for charities, to help cut down the huge administrative burden faced by charities.

To view the report, go to www.cfdg.org.uk

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