Changes will affect charities from 1 January 2016
Due to changes in company accounting, changes are to be made to UK generally accepted accounting practice (GAAP).
These changes will take effect from 1 January 2016.
The role of the Statement of Recommended Practice (SORP) is to provide guidance on the application of GAAP.
The Charity Commission opened a consultation on 18 June that will last until 18 September.
It is consulting on three different matters:
To view the consultation, visit the Charities SORP website