CFG’s SORP Survey

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June 21, 2016 at 12:56

In our previous blogs about the SORP CFG encouraged charities to be actively engaged in the consultation. It is important that charities help to shape such an important regulation document, especially during this current climate.

Another day, another opportunity for charities to engage in a consultation

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May 24, 2016 at 10:32

Just like buses, you wait around for one consultation from the Charity Commission and then you’re surprised by two turning up together. On the 19th May the Charity Commission (in partnership with the OSCR and CCNI) has announced an invitation to comment on the way charities report matters of material significance to a UK charity regulator.

Is the SORP FRS 102 working for you?

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May 5, 2016 at 17:46

On the 4th May the Charity Commission for England and Wales and the Office of the Scottish Charity Regulator (OSCR) published a research consultation on charities Statement of Recommended Practice (SORP) FRS 102.

Which SORP is right for you?

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April 5, 2016 at 17:05

Helena Wilkinson of Price Bailey weighs up the benefits and challenges for smaller charities that are deciding which SORP they should use, and provides some practical advice.

Lessons to take away from Kids Company report

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February 1, 2016 at 11:34

The Public Administration and Constitutional Affairs Committee (PACAC) report on the failure of Kids Company has been released. The report has a number of lessons that the charity sector needs to learn, this blog post outlines some of the main points that we should take away from a finance perspective.

What did the Romans ever know about data protection?

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January 19, 2016 at 17:33

As usual, quite a lot. Caesar famously used his cipher device to protect important and sensitive military data among his generals. So what can we learn from the famous Roman?

Why is transparency and reporting important for charities?

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April 9, 2015 at 09:22

Helena Wilkinson, Partner at Price Bailey   Charities have seen a lot more focused attention from the media over recent the last year on transparency. This has had a particular focus on remuneration, but has also spanned other aspects including investments, reserves and income streams – particularly government and local authority grants. Finance leaders in charities need to carefully think about the messages and information that you disclose (and do not disclose) about your organisation.  One key aspect of this communication and interaction with the public is the statutory accounts – which are readily and freely available for most charities off […]

A change in economic outlook- is your charity sinking or swimming… tell us!

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January 24, 2014 at 15:12

As the economy is beginning to show tentative signs of recovery, the most pressing question on the minds of many in the charity sector is how this will impact on their organisations. Whilst during the recession the charity sector has proven itself to be both resilient and flexible in its battle to cope with increased demand and reduced funding; the impact of the economic downturn has been significant with charities experiencing challenges such as cuts in frontline staff, closure of services and a drop in donations. The widespread effect of these tough economic times on the charity sector has been […]

Accounting for different charity structures

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November 15, 2013 at 12:22

The legal and reporting framework anchors the values shared by charities, while still allowing flexibility where there is divergence in business model. The guidance for financial reporting in charities, or the SORP, provides part of the anchor, but should also enable innovation.  That’s where references in financial reporting guidance to new age concepts like social investment can come in.  But it’s not just about the newbies; old chestnuts such as how to account for trading subsidiaries are also critical to innovation.  Charity trading has developed immensely, from something previously aligned with running a few charity shops, to contracting out services, selling […]

Tweaking the annual return

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July 24, 2013 at 20:05

Our policy team recently took the unusual step of completing CFG’s annual return (AR).  As in most charities, this normally falls to our finance team, so this was relatively new territory for us, and a rather a novel way to get our heads around the Charity Commission’s latest consultation, ‘Developing the content of the annual return and information displayed on the register of charities’. While not the liveliest of issues we’re working on right now, this stuff matters – our members agree as over 150 of them took the time to send us in their thoughts.  Accounts, reports and the […]