The Business Exchange Swindon & Wiltshire Edition 24: April/May 2016 | Page 11

FINANCE

ARE YOU A CHARITY?
WHAT YOU NEED TO KNOW
By Sue Plumb, charity and not-for-profit specialist at Haines Watts Swindon

Did you know two new Statements of Recommended Practice or
SORPs for charities have been published recently? This may sound
extremely dull but it’s essential charitable organisations know about
this and take appropriate action.
The new SORPs were needed due to
changes in UK accounting practices. These
now provide a comprehensive framework
for charity and not for profit entities to
follow.
Both SORPs ap H