Charity model accounts

26.04.2021
Rebecca Frost
Charities

Though there are no changes to the Charity SORP to report on, those preparing charity accounts might be interested to know that the model accounts published by the SORP Committee have been updated.

These provide examples of how charity accounts should be presented in order to comply with the latest reporting requirements for charities, including the latest version of the SORP that was published in October 2019.

Two versions of the model accounts are available, the Arts Theatre Trust which is an incorporated charitable company and the Rosanna Grant Trust, which is an unincorporated trust. These examples are developed for charities in England and Wales.

The England and Wales examples are being reworked by OSCR for reporting in Scotland. The SORP website notes that additional model accounts are being prepared that provide further disclosure guidance on how charities should report on the implications of the COVID-19 pandemic.

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