IFA takes part in the development of the next Charity SORP

The SORP Committee has launched the redevelopment of the Charities Statement of Recommended Practice (SORP) (FRS102) with an estimated launch date of January 2024. 

The IFA has been appointed as a member of one of six engagement strands, and is now calling on its members to have their say.

“Ours is the trustee strand, representing the views of all trustees, not just those with a dedicated financial role. Our involvement gives you, as an IFA member, a real opportunity to influence all aspects of the development of the new SORP,” said Anne Davis, director of professional standards at the IFA.

“We are now in the exploratory stage: canvassing initial opinions – both positive and negative – about the current SORP. This first communication with you via the Trustee Engagement Strand’s Survey Monkey questionnaire seeks broad views from current and former charity trustees.

“Please complete it yourself, and feel free to share amongst other trustee colleagues. The survey can be completed several times using the same link.”

Despite the apparently distant target, there are already deadlines to be met; the final date for responses to this questionnaire is 7 December 2020.   

IFA members are encouraged to complete the questionnaire by using this link: https://www.surveymonkey.co.uk/r/93T2K76

“We are interested to hear your views and will report back on the overall results,” Ms Davis confirmed.