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Changes to the Charities SORP - Update Bulletin 2

The Charity Commission have amended their SORP (2015) by the publication of an Update Bulletin on 5 October. This Bulletin makes the following changes to the SORP:
  • Clarifications to the existing requirements of the SORP - these are mandatory for periods commending from 5 October 2018 onward
  • Changes requires as a result of the Triennial Review of FRS 102. As with FRS 102 itself, these changes are mandatory from periods commencing 1 January 2019, although early adoption is generally permitted.
We do not expect any of these changes to have a significant impact for most charities (and the clarifications should in theory have no impact). However, it is important that firms familiarise themselves with the Update Bulletin. HAT will cover the changes in Q1 next year and also update our Charities documentation in due course.