New SORP brings changes to lease accounting for charities
There are big changes in how leases are reported in charity accounts, explains Abi Robinson of Lovewell Blake’s Charities team.
Changes to income recognition, and what it means for charities
The new Charity SORP (Statement of Recommended Practice) has some significant changes in the area of income recognition.
A timely reminder about conflicts of interest in charities
There has been a timely reminder from the Charity Commission about identifying and managing potential conflicts of interest amongst charity trustees.
'Little and often' is the key to complying with new SORP's trustees' report requirements
Don’t leave it until the end of the year to start work on complying with new Trustees’ Report requirements.
Avoid tears by getting to grips with the tiers
The new SORP marks a major shift in how charities must report their finances, with how much information your charity must disclose determined by a new three tier framework.
Academies Accounts Direction
The DfE have now released the Academies accounts direction 2025-2026 for accounting periods ending 31 August 2026, along with model accounts and the auditor framework and guide.
Reporting requirements in new Charities SORP shine light in importance of robust reserves policy
With new rules on the reporting of reserves contained in the new Charities SORP, it is more important than ever that charities’ reserves policies reflect their current needs.
Pressing need for charities to mitigate risks to financial resilience
With risks to financial resilience identified by the Charity Commission as one of the pressing issues facing charities, robust budgeting and quality information are key.