Foreword
We have been writing about forthcoming changes in UK financial
reporting for some time but I am now delighted to say that since
our last newsletter, the time has finally arrived when charities
can report under the new accounting and reporting rules. Although
not yet mandatory, we have already been busy helping some of our
clients with the early adoption of the new requirements. As more
and more charities make the transition, we will all become more
familiar with the new requirements and, in the fullness of time,
they will be seen as commonplace.
However in the meantime, most are still unfamiliar with the
requirements. In this issue of the newsletter we look at the
trustees' annual report and some of the additional disclosures
that are required. These are not driven by the new UK accounting
standards but have been updated to provide more transparency and
consistency in charities' narrative reporting. We also
summarise some of the useful information coming
