One of the main reasons given by those leading the charge for a total revamp of the SORP is that nobody reads charity accounts. But is this true? In 2017, David Holdsworth, chief operating officer at the Charity Commission, bragged that the regulator’s register of charities was the second most viewed part of the government’s website, after HMRC, with “one million hits per month”.

And interest is growing. According to OSCR, the Scottish charity regulator, the number of views of annual reports and accounts published on the Scottish Charity Register was 11 per cent higher in the nine-month period from April to December 2017 than in the corresponding period the year before.