Churches must adhere to specific reporting and accounting rules and regulations.
The Charity Commission created the charities SORP – which stands for Statement of Recommended Practice – to provide guidance on how charities should prepare their annual accounts and report on their finances. It is a statement of required practice and all charities have to follow the guidelines.
Church denominations have adopted the SORP as its standard basis for annual financial reporting, so that they can provide the same information to both government and the wider church.
Treasurers and accountants usually have responsibility for ensuring that reports are accurate and understandable and these resources will help to improve your technical competence, as well as produce reports that are accessible to all.
On 31 October 2022, the first set of changes introduced by the Charities Act 2022 came into force, introducing a range of provisions, including new powers for trustees. These provisions include: Other provisions of the Act now in force: More detailed information on these changes can be found here: https://www.gov.uk/guidance/charities-act-2022-guidance-for-charities The next set of provisions […]
