Following the drafting of the updated Statement of Recommended Practice (SORP), Charity Finance Group (CFG) is inviting charities and sector experts to join together to respond to the proposed changes.
As the go-to body for charity finance and having been instrumental in the formation of the original SORP, CFG is inviting charities, corporate partners and other experts and interested parties to engage in the process and share thoughts and feed back to shape CFG’s response to the consultation.
The charity is hosting a number of roundtables during the consultation period and will collate all feedback from them.
More information can be found on our dedicated SORP webpage.
Following the publication of the revised SORP, CFG will also launch a suite of learning resources, including training events and information packs.
Dr Clare Mills, Deputy CEO, CFG, commented: “Listening to those charities that will be required to follow the SORP is crucial to its development. We’re looking forward to meeting our member charities, corporate partners and others from across the wider sector, and providing opportunities to engage in the consultation process.
“Central to CFG’s mission is ensuring every charity can develop the skills and knowledge needed to maximise their money and resources, whilst complying with regulation and good governance.
“We’ll be delivering a full programme of training events and information to support compliance with the new SORP.”
The consultation was announced in December 2024 by the charities SORP-making body which worked with the sector-based SORP Committee to draft the new accounting requirements.
The Financial Reporting Council (FRC) have now approved the draft which is expected to be published for consultation soon. The consultation will run for 12 weeks.
The final SORP is expected to be updated and issued in Autumn 2025 and to become effective for accounting period starting on or after 1 January 2026.
Editor’s notes
CFG is hosting four free-for-members SORP consultation events, on Wednesday 7 May, Thursday 8 May, Wednesday 14 May and Monday 19 May. Visit our events page for more information.
About the SORP
The SORP is a comprehensive framework for charity accounting and reporting. It sets out the standards for consistent financial reporting for all charities preparing accruals accounts. The SORP also offers recommendations on accounting and reporting for charity-specific transactions.
The SORP-making body comprises the sector’s regulators – the Charity Commission for England and Wales (CCEW), the Office of the Scottish Charity Regulator (OSCR) and the Charity Commission for Northern Ireland (CCNI).
The SORP Committee comprises sector experts who advise the SORP-making body. Members of the Committee include Caron Bradshaw OBE, CEO, CFG. A full list of Committee members can be found on the Charities SORP website.
About CFG
CFG is the charity and membership organisation that supports other charitable organisations to make the biggest difference possible. We do this by helping them to make their money and resources go further, by putting financial leadership at the heart of their decision-making. Since CFG was founded in 1987, we have evolved to welcome all finance professionals working for charitable and social change organisations. We also welcome non-finance professionals who recognise that we deliver greater impact when we are financially confident, trustworthy and dynamic. Today, CFG’s vibrant community manages around one third of the UK’s entire charity sector income. We are a diverse and inclusive community of people who are passionate about delivering impact through financial leadership. Together, we lead the way for charity finance.
More information can be found on CFG's SORP webpage.
CFG contacts
Emma Abbott, Communications Manager, CFG.
Glyn Sheldon, Communications Officer, CFG.
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