The Charity Commission has recruited specialist volunteers in a bid to improve the way organisations can engage in developing accounting rules for charities.
Those volunteers will help gather and share views from the charity sector on the Statement of Recommended Practice (SORP), to inform the work of the SORP-making body and the SORP advisory committee.
The new engagement work will take place under six strands, each led by a volunteer convenor: trustees; smaller charities and independent examiners; professional and technical advice; larger charities; major funders and donors; and academics and regulators.
The conveners are:
- Trustees: Louise Thomson from the Chartered Governance Institute.
- Smaller charities and independent examiners: Chris Bolt.
- Professional and technical (Group A): Roberta Fusco from the Charity Finance Group.
- Professional and technical (Group B): Christine Scott from ICAS.
- Larger charities: Tony Ward from The Wheel.
- Major funders and donors and government and public bodies: Sue Wilson.
- Academics and regulators and proxies for the public interest: Diarmuid McDonnell.
Review of SORP
The decision follows a governance review of the SORP development process which concluded last year, and will apply in all parts of the UK.
Lindsay Montgomery, the chair of the Scottish Charity Regulator, said: “Charity annual reports and accounts are a key mechanism for charities to be accountable and transparent. As regulator, we want to make sure that they are as useful, helpful and understandable as possible.
“Consequently OSCR takes its role as part of the SORP-making body very seriously. We would like to thank everyone who has volunteered as an engagement partner. To those who will act as convenors, you have a great opportunity to create a thoughtful debate around the development of a critical contributor to public trust in charities.”
Better financial reporting
Helen Martin, chief executive of the Charities Regulator, Ireland, said: “The Charities Regulator regards the Charity SORP as an important means for charities to achieve greater levels of accountability.
“Engagement with the charities sector is key to the development of the SORP. We therefore very much welcome The Wheel as the convenor of the larger charities engagement strand – the first organisation from the Republic of Ireland to play a critical role in this new engagement process.”
Nigel Davies, assistant director of accountancy services at the Charity Commission for England and Wales, said: “It is heartening to see charities embracing leadership and responsibility for the wider sector by volunteering to act as convenors as part of our SORP engagement work.
"Enhancing the SORP will support charities deliver better financial reporting that meets the expectations of the public.”
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