Closed consultation

New consultation on the charity taxonomy (FRS 102 SoRP)

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Summary

The Financial Reporting Council (FRC) and the Charity Commission (CC) are jointly consulting on a taxonomy to enhance the quality of financial reporting for Charities in the UK and Ireland.

This consultation ran from
to

Consultation description

The existing XBRL accounts tagging convention (Charity ’taxonomy’) 2009 version has been updated following the introduction of the Charity SORP (FRS 102) and the FRC’s financial reporting standard FRS 102. The taxonomy will be used when tagging charity accounts for electronic filing and for other analytical purposes. Electronic tagging helps users of financial information to extract relevant information from corporate reports and analyse it more efficiently.

Taxonomy consultation

Please take this opportunity to familiarise yourself with the new taxonomy and participate in the consultation which opened on 8 October and runs for 2 months. The consultation closes on 8 December 2015 after which the taxonomy will be finalised. Your views are important. See Taxonomy consultation - your views sought.

Submitting your comments

Once you have read the consultation and accompanying documents please submit your comments:

a) Directly through the ‘Yeti’ viewer in which the taxonomies are displayed on the internet. This enables specific comments to be made on individual data items in the taxonomies. It is best suited to detailed feedback. A guide on how to use the Yeti viewer and make comments is available on the FRC website.

b) By comment letter to the FRC and CC. Such letters may be sent by post to FRC, 8th Floor, 125 London Wall, London EC2Y 5AS ; or e-mail to j.guest@frc.org.uk and kim.andrews@charitycommission.gsi.gov.uk

All comments should be sent before close of business on 8 December 2015.

Taxonomy consultation events

A number of professional bodies and charity sector partners are holding webinars and events to discuss the taxonomy consultation.

Upcoming articles are to be published in Finance Focus and the ICAEW Charity and Voluntary Sector Newsletter.

Documents

Consultation on proposed new XBRL Charity accounts taxonomy

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If you use assistive technology (such as a screen reader) and need a version of this document in a more accessible format, please email usability@charitycommission.gsi.gov.uk. Please tell us what format you need. It will help us if you say what assistive technology you use.

Presentation: What is the Charity Taxonomy? - Jennifer Guest

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Presentation: The Charity Commission's current thinking

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Tagged accounts (hand-out)

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If you use assistive technology (such as a screen reader) and need a version of this document in a more accessible format, please email usability@charitycommission.gsi.gov.uk. Please tell us what format you need. It will help us if you say what assistive technology you use.

Published 8 October 2015