A.35 Other disclosure in charity accounts

Introduction

According to the Statement of Recommended Practices (SORP) ‘’the primary purpose of the trustees’ annual report is to ensure that the charity is publicly accountable to its stakeholders for the stewardship and management of the funds it holds on trust.”

The disclosure of certain transactions is important for stewardship purposes to provide assurance that the charity is operating for the public benefit and that its trustees are acting in the interests of their charity and not for private benefit.

For this reason, this SORP requires that disclosure must be made of transactions involving trustees, related parties, staff remuneration and ex-gratia payments.

Doing this course will enable accountants and trustees alike what information is to be legally required to be included with regards to cash flow statement in a trustee’s annual report. Specifically, the course covers;

• Disclosure of trustees’ remuneration and benefits;
• Disclosure of trustees’ expenses;
• Transactions with related parties that require disclosure;
• Transactions with related parties that do not require disclosure;
• Disclosure of related party transactions;
• Disclosure of audit, independent examination and other financial service fees;
• Disclosure of ex-gratia payments;
• Disclosure of staff costs and employee benefits; and
• Remuneration and benefits received by key management personnel

This course is derived from the Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2015)

Who is it for?

• Accountants
• Trustees of charities
• Users of charity information
• Funders and banks

How does it work?

Once you register for the course, we will email you your log-in ID, and you can be on your way to learn right away. It’s that simple.

You can read our terms of engagement by clicking here.

You can pay for this program by using a debit or credit card.

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