Sector Supports

40,000 people throughout Ireland access Carmichael Centre services and supports annually.

Nov
7

SORP requirements for Charities (2017)

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Carmichael Centre
9:45AM - 2:00PM
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SORP requirements for Charities and the responsibilities of the Board of Directors under the Charities Act 

 

 

What the training will cover:

  • What are the responsibilities of the Board  of Directors  under the Charities Act
  • What are SORP’s (Statements of Recommend Practice)
  • What is the purpose of SORP
  • Why are they necessary in charity financial reporting
  • What are the requirements of SORPS for Charities
  • What is the connection between the Charities Act 2009 and SORP
  • What are the key requirements of SORP FRS102 (latest SORP)
  • How to lay out Financial Annual Accounts in SORP Format
  • What is a Statement of Financial Activities (SOFA) and how to construct it
  •  The rules on Income recognition under SORP
  • The rules of allocation Overheads by Charity Activity
  • What is happening in the Regulators office for implementing a SORP in Ireland
  • Latest information on the consultation process
  • What is an Activity Report which is required from all  charities  regardless of size

 

Trainer

Evelyn Fitzpatrick
Evelyn Fitzpatrick Consulting

In addition to being a Financial Advisor to organisations in the Community, Voluntary and Charity sector for many years, Evelyn is a council member of the Institute of Certified Public Accountants in Ireland (CPA) and Chairperson of CPA Continuing Professional Development Committee CPD.

Target Audience: 
Board Members and Finance Managers of Charities
Outcomes: 

By the end of the course you will be able to:

  • Understand the role and responsibilities of the Board of a Charity
  • Identify the purpose and key requirements of SORP
  • Understand how to lay out Annual Financial Accounts in the latest SORP format
  • Know how to prepare an Annual Activity Report
  • Construct a Statement of Financial Activities (SOFA)
  • Know how to allocate Charity Overheads by Activity
  • Know what disclosure of staff costs and employee benefits are required
  • Know how to prepare Financial Accounts analysed by the Activities of the Charity
  • Understand Audit and Annual reporting requirement to the Charity Regulator
  • Know how to keep up to date with developments in the Charities Regulatory Office 
Fees: 

Carmichael Centre Resident Members: €60

Other Community Voluntary Charity Organisations: €70

Statutory/Corporate Organisations: €80

Booking Information: 

Book Online Only.