Getting Technical - How Software Can Play A Valuable Role Under The New SORP

Now that the consultation period for the draft SORP has come to a close, charities of all sizes are looking to understand the impact on their operations and future strategy. Naturally there is much to chew on from an accounting perspective but software too has a valuable role to play.

Trustees' annual report

The new SORP encourages the use of the annual report as a tool to illuminate the activities, achievements and 'lessons learned' by the charity.

Under the new SORP, the trustee's annual report (TAR) will need to:

• explain how its activities have furthered the charity's purpose for public benefit
• identify how its work has impacted its beneficiaries
• clarify the positive/negative factors that have affected achievement of objectives