# CFDG welcomes publication of SORP 2005

- Link: https://fundraising.co.uk/2005/03/04/cfdg-welcomes-publication-sorp-2005/
- Published: 2005-03-04T10:14:14+00:00
- Author: Howard Lake

The Charity Finance Directors’ Group has welcomed the publication of the Statement
of Recommended Practice 2005.

They were particularly pleased that the SORP has taken on board so many of the recommendations
made in its publication “Inputs Matter”. New provisions such as the restructuring
of the Statement of Financial Activities so there is a correlation between income
streams and related activity costs, were put first put forward in the CFDG report.

Shirley Scott , Chief Executive said: “The aim of the SORP and of the Inputs Matter
Report is to improve the quality of reporting in the charity sector so that all 
those engaging with the charity, whether as Trustee, employee, funder or beneficiary,
can fully understand what the charity does and how it acquires and uses the resources
available to it. We believe that adhering to the new SORP will help charities to
achieve that aim.”

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“Although we are disappointed that the requirements on heritage assets will not 
be changed, we welcome the fact that the consultation period gave the museums and
gallery sector a chance to air their concerns about this issue and we hope that 
their comments will inform subsequent SORP reviews.”

www.cfdg.org.uk

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