CHARITIES SORP REVISED TO REFLECT WITHDRAWAL OF FRSSE ACCOUNTING RULES

摘要

The final version of the Charities SORP (FRS 102) has been published reflecting the changes required following implementation of FRS 102, Financial Reporting Standard applicable in the UK & Ireland. All charities will now have to report under a single charity accounting framework. The SORP was released by the Charity Commission, Office of the Scottish Charity Regulator and CIPFA. The revised SORP applies to all charity reporting periods beginning on or after 1 January 2016. The revised standard means that the original plan for two versions of the SORP incorporating a revised FRSSE, Financial Reporting Standard for Smaller Entities (FRSSE), standard and an FRS 102 framework will not go ahead.