In the United Kingdom, SORP (Statement of Recommended Practice), Accounting and Reporting is mandatory for all charities over a certain size. Reporting to SORP standards is considered best practice for not-for-profit or “public benefit entities” in the Republic of Ireland. The Minister has not prescribed the content or form of charities accounts as yet however, it is anticipated that SORP or similar standards for reporting will be adopted.
Our extensive experience in the not-for-profit sector has provided a wealth of knowledge in reporting under SORP. We aim to make the transition to SORP as smooth as practicable and provide precise advice for best practice reporting. We provide a complete service for the conversion of financial statements, ensuring full compliance with SORP and best practice in the sector.