Update Bulletin 2, Charities SORP (FRS 102) published

The bulletin is a summary of the changes to the Charities SORP following the triennial review of FRS 102. These changes apply to all reporting periods beginning on or after 1 January 2019 and early adoption is permitted providing all the provisions of the bulletin are applied. The bulletin splits these amendments into three categories;

• Clarifying amendments, which ensure the Charities SORP is consistent with existing requirements under FRS 102
• Significant amendments to the SORP which are considered to have a major impact and/or to be relevant to a large number of charities
• Other amendments, which are considered to be mainly editorial in nature or to be of relevance to a small number of charities

Bulletin 2 for the Charities SORP (FRS 102) was published on 5 October and can be found on the Charities SORP microsite here.