Charities SORP: all change please

In order to be awarded CPD units you must answer the following five random questions correctly. If you fail the test, please re-read the article before attempting the questions again.

  1. When do charities have to apply the new SORPs?

  2. Which of the following statements is true?

  3. What is one of the key differences when preparing accounts under the FRS 102 SORP compared SORP 2005?

  4. What are the main differences between FRSSE and FRS102 SORPs?

  5. What are the main changes to the SOFA from 2005 SORP to FRS 102 SORP?

  6. Which of the following statements are true?

  7. What are the main additional disclosures required under FRS102 compared to SORP 2005?

  8. Do charities only have to refer to FRSEE SORP for solutions to specific items or transactions?

  9. What are the main changes to the Trustees annual report that impact all charities?

  10. How many written responses were made to the new charities SORP consultation?