The relevance of the revised Charity SORP in Ireland. Sheila Nordon 4 th October 2013. Charity Sector in Ireland – some facts. Est. 24,000 non profit organisations of which 8,342 currently qualify for charitable tax exemption (automatic registration under Charities Act 2009)
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The relevance of the revised Charity SORP in Ireland
4th October 2013
The Charity SORP is recommended as Best Practice and is voluntary in Ireland – why is it different here?
So why is the Charity SORP relevant to Irish Charities you might ask?
Donors are least satisfied with understanding impact and seeing finances
“Thinking about the last time you made a donation to charity that was significant to you, how satisfied were you with the different aspects of the experience”
Base: Recent charity donors who answered each statement (approx 700 Jun 06, 768 Apr/May 13, 919 Apr/May 13) adults 16+, Britain. Source: Charity Awareness Monitor, Apr/May 2013, nfpSynergy
If not the Charity SORP then what?
Are we going to start from scratch in Ireland?
If we do?
Makes more sense to adopt the internationally recognised Charity SORP specially designed for charities adopting accruals accounting (which would apply to charity companies and non-companies alike) and develop a simpler reporting format for small charities similar to Scotland.
This is your chance to have your views on the new SORP heardTake it!
Closing date for submissions is
4th November 2013