The Future of Trusteeship - Get ready for the new charity accounting framework

19/08/2025

News

The new Charities Statement of Recommended Practice (SORP) is on its way. The consultation has now closed, and over 140 stakeholder responses are being analysed to inform the final version, which is expected to be published in October 2025.

For charities that use the SORP, the new framework will apply to financial years beginning on or after January 1, 2026. In the meantime, it’s a great time to start getting ready for changes related to lease accounting and revenue recognition.

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