The new Charities SORP – what will change? Belfast
The Charity Commission is currently consulting with the Third Sector on their new reporting requirements. Eventually, all charities with income over £250k will have to comply with the Charities SORP. Most NI charities of this size actually do comply with the SORP and have done for years. However the SORP they have used for years is changing.
Charities with year ends of 31 December 2015 onwards will now have to prepare their accounts in accordance with the new Statement of Recommended Practice (‘SORP’). This is the first significant change in accounting requirements for charities in over 10 years.
The new SORP will affect some charities more than others. All will have amendments to make to their Trustees Report, many will have additional disclosures to make to their accounts and some will have significant changes to the numbers they report. Accounting policies will need to be reviewed and possibly changed. Comparative figures and opening balances may need to be restated.
The course will provide guidance on the implementation of the SORP including:
- the changes needed to your Trustees Report;
- accounting policies that you should review now;
- identifying the figures in your accounts that may change with the new SORP; and
- providing practical guidance on making any necessary changes.
The course will also clarify levels of scrutiny (audit, independent examination) your charity will be subject to under the new law.
Finegan Gibson specialise in providing accountancy and financial support services to the voluntary and community sector in Northern Ireland. For over 60 years they have been acting as auditors and accountants for charities with income ranging from less than £10k to over £30m. The course will be presented by Conor Dolan FCA and Paul Dolan ACA, partners in the firm with extensive experience of accounting for Northern Ireland’s charities.
Attendees will have a clear appreciation of how the new SORP will affect their charity and steps they should take now to be prepared.
Who should attend this course?
Those involved in preparing and reviewing their charity’s accounts therefore finance staff, senior management teams and Trustees.
This course will attract 1½ hours of continual professional development (‘CPD’) time for those who are required to maintain CPD.
To book your place please email email@example.com or Tel: 028 90 245 356.
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