We want to thank everyone who participated in or was involved in the various SORP Consultations conducted by BHP. The consultation on the Exposure Draft of the new SORP closed on 20 June 2025.
Here’s a reminder of the Charities SORP timeline and when we can expect the final SORP!
- March 2024 – December 2024: Drafting of the updated SORP, reflecting the changes in FRS 102 and overlaying sector-specific considerations.
- January – March 2025: Draft submitted to the Financial Reporting Council (FRC) for approval.
- 28 March – 20 June 2025: Public consultation period on the Exposure Draft SORP.
- June – July 2025: Review of consultation responses and final revisions to the draft SORP
- August – September 2025: FRC approval of the finalised SORP.
- Autumn 2025 (most likely October or November): Publication of the final SORP.
- Effective From Financial periods beginning on or after 1 January 2026: The new SORP will apply for periods commencing on or after this date, so year-ends of 31 December 2026 are the first full year impacted, but be aware of short periods and early adoption is also permitted.
