A brief guide to the Charities Statement Of Recommended Practice 2015 for academy trusts incorporated before 1 January 2015
This brief guide, published by the Education Funding Agency (EFA), is for academy trusts incorporated before 1 January 2015.
It sets out the main changes arising from Financial Reporting Standard (FRS) 102 and the Charities Statement Of Recommended Practice 2015 (SORP 2015) that are relevant to these trusts, and specific transition actions they should consider now.
The Charity Commission and the Office of the Scottish Charity Regulator issued SORP 2015 on 16 July 2014. It is effective for accounting periods beginning on or after 1 January 2015.