Yoke has now submitted its response to the consultation about the governance of developing the Charity SORP (the accounting regulations for charities). In summary we make four points:
The goal of the SORP is to enforce standardisation and consistency of reporting
Encouraging an infrastructure to interpret accounts (by sector) based on the Commission’s website data will improve transparency
Reporting on impact should be undertaken by people who are appropriately experienced and accountable
There should be a better way for niche or technical improvements to accounting policy to be considered and incorporated in the SORP.