The Chartered Institute of Public Finance and Accountancy, CIPFA, will continue to provide secretariat support for the Charities Statement of Recommended Practice (SORP), working in partnership with the SORP-making body.
The organisation will also provide support for the drafting of the statement’s future updates for at least another three years.
The Charities SORP is the set of rules which governs charity accounting for charitable companies and larger charities (charities with an income over £250,000).
Representatives from the three charity regulators in the UK make up the SORP-making body that develops this charity accounting framework.
CIPFA has been providing this service since 2014 with an initial three year contract extended for a further year whilst the contract was retendered.
Following an open tender process in 2018, the SORP-making body agreed to award the contract to CIPFA for an initial term of three years from December 2018 with an option to extend for up to two more years.
CIPFA were also awarded a related subcontract to provide a printing, publication, and distribution service for the SORP as part of an integrated service.
Office of the Scottish Charity Regulator’s (OSCR), Laura Anderson, on behalf of the joint-chairs of the SORP committee, said:
“We are delighted to continue our partnership with CIPFA and very much look forward to the work we will carry out in developing the SORP to ensure it serves the charity sector well.
“This is a very positive continuation of our work with CIPFA and something that we are all very excited about – we are looking forward to the challenges ahead.”
Don Peebles, Head of Policy & Technical, CIPFA, said:
“This renewed partnership provides an opportunity for CIPFA to use its expertise in providing advice and guidance on accounting best practice in the charity sector.
“We look forward to continuing to support the development of the next version of the SORP, as well as other changes on the horizon for the newly extended SORP-making body.”
For enquiries to the Charity Commission for England and Wales, please contact firstname.lastname@example.org / 0300 065 2123.
For enquiries to OSCR please contact email@example.com / 01382 220446.
For press enquiries to the Charity Commission for Northern Ireland, please contact firstname.lastname@example.org / 028 3832 0169.
For enquiries to CIPFA please contact email@example.com / 020 7543 5830.
Notes to editors