Charity Commission issues revised SORP
The Charity Commission surprised many accountants by publishing a revised version of its Statement of Recommended Practice: Accounting and Reporting for Charities - the 2005 charity SORP.
The new 120-page SORP 2005 will apply to accounting periods that begin on/after 1 April 2005. While the standard was expected around Easter time, it came out slightly earlier than expected in mid-March.
SORP 2005 is available from the Charity Commission website as a PDF download (364k).