Charitites - SORP commission appointed
The Charity Commission has appointed a committee of accounting experts to lead its review of the statement of recommended practice for accounting by charities.
The group of 13, approved by the Accounting Standards Board, will be chaired by charity commissioner John Bonds, and is tasked with reviewing the 250 responses received from last year’s consultation exercise.
Among those selected are Charity Finance Directors Group chairman David King, who is also finance director at the Imperial Cancer Research Fund.
Other members are Pesh Framjee of Binder Hamlyn, and Adrian Randall of Moores Rowland’s charity unit.
‘Charities have found the SORP useful, but there are a few points which could be clearer – mainly technical issues such as when legacies should be included and how the SORP fits in with Accounting Standards Board rules and Companies Acts requirements,’ King explained.
The SORP review is part of the Charity Commission’s work towards providing an effective framework and increasing public accountability for charities.
A more detailed analysis will be submitted in February.