CFDG launches project to improve charity reporting
Howard Lake | 6 May 2003 | News
The Charity Finance Directors’ Group (CFDG) has set out a new initiative to improve the consistency of charity annual reports.
The project is expected to play a vital part in improving the quality and consistency of charity annual reports and as such, will help charities move on to more accurate output and outcome measures. The new work has been funded by the LloydsTSB Foundation.
CFDG plan to develop input work on:
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- Support Costs and Management and Administration Costs
- Fundraising costs
- Valuing of volunteers
Working Groups will be created to consider each of these issues and aid the
development of a Report, scheduled for publication in September 2003, which
will contain ./guidance on how input costs should be shown within charity
accounts that are fully SORP compliant. It is anticipated that the Report
will contribute to the next annual SORP review.
Ray Jones, Policy Accountant at the Charity Commission said: “The Charity
Commission welcomes this work as a positive step in the further development
of consistent accounting approaches to input measurement and cost allocation. These issues underpin financial comparability which are at the core of the SORP’s role and will provide valuable and informed input into
the next annual review of the SORP.”
About Howard Lake
Howard Lake is consultant editor of UK Fundraising. He founded the site in 1994 and successfully sold it in 2022. As director of Giving X Ltd he is exploring growing giving on a massive scale.
He is the founder of Fundraising Camp and co-founder of GoodJobs.