Charity SORP 2015 – Practical Implementation Guide

We all know that there is a new standard for charities coming very soon, which details how charities must prepare their financial statements – namely the SORP 2015 (Statement of Recommended Practice).

This new SORP applies for the first time to charities with years ending 31 December 2015 (or for most charities, who have a March year end, 31 March 2016).  In order to break down the changes required, which will include making policy choices prior to implementation, our practical implementation guide looks to assist this process.

Our latest guide has condensed the main changes brought about by SORP 2015, which will need to be considered at the transition date (this is the date the new standard applies from i.e. 1 January 2015 or for most charities with a March year end, 1 April 2015).

Thinking about these areas before drawing up the first set of SORP 2015 financial statements will enable charities to collate information in advance of the change.  This should assist charities to implement the change prior to the computational exercise of restating the prior period accounts, having thought about the impact and collected the necessary information in advance.

Please find our practical guide here. The guide is largely aimed at those charities adopting the ‘large charity SORP’ namely SORP 2015 FRS102, rather than those adopting the ‘small charity SORP’ namely the SORP 2015 FRSSE.  The small charity SORP is largely unchanged, whereas the large charity SORP is a game changer.

The guide showcases each potential area of change and can be used to compare each section impacted by the new SORP 2015 against your own charity’s accounts. You can then consider its impact, if any, when adopting the new SORP.

For further information or assistance, please contact our Head of Not-for-Profit Simon Brown on 0191 285 0321 or email

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