Covid-19 Charities SORP Committee Guidance
Implications of Covid-19 control measures and charity financial reporting.
Uniquely and reflecting the unprecedented times we are living through, the Charity SORP Committee has issued guidance to supplement the Charity Statement of Recommended Practice (SORP) on the single issue of the Covid-19 pandemic. This guidance was Issued on 23 March 2020 and can be found on the Charity SORP website.
It presents a timely reminder that financial statements must provide a true and fair view, and there can seldom have been a single issue that has so dominated the lives of everyone, so it must not be ignored in financial
reporting. This is advisory guidance only, not mandatory, but is undeniably helpful. It is relevant for those currently finalising their statutory financial statements as well as those planning for their year-end process.
A summary of the five main areas that charities need to consider is set out our guidance document.