Introduction to Charity Financial Statements & Reporting under the 2026 SORP

Introduction

Charities play an important role in our society but the nature of their income, how they spend it and the reason they exist at all set them apart from most other organisations that prepare accounts. As a result, there are some key differences between the annual reports of charities and those of other entities.

This modular webinar uses case studies and real-life examples to provide insight into the key accounting treatments and disclosures that are unique to charities and link these back to the principles that underpin charitable status.

Based on the updated requirements of SORP 2026, this series of webinars focuses on the latest requirements and best practice. It also looks at the key considerations for performing an audit or independent examination of a charity.

These introductory level modules are targeted at accountants and auditors with limited experience of charity accounts. A basic understanding of general accounting principles and UK GAAP is assumed.

What You Will Learn:

This webinar series will cover the following:

Module 1 - The Legal and Regulatory Framework and Content of Charity Accounts

• An overview of the laws and regulations that provide the framework for charities in the UK
• The benefits of charitable status, the obligations that come with it and how these are reflected in the statutory reporting requirements
• The role of charity regulators, trustees and the Charities SORP 2026
• The reporting and scrutiny requirements for different types and size of charity

Module 2 - The Trustees Annual Report, Fund Accounting and Reserves

The Trustees’ Annual Report (TAR) is an important part of a charity’s annual report. This module covers:

• The key requirements for the TAR as set out in the SORP
• The concept of ‘available reserves’ and forming a reserves policy
• The requirements for ‘fund accounting’ as an integral aspect of charity accounting

Module 3 - Income

A key difference between charities and other entities is the source of their income which can arise from both exchange and non-exchange transactions. This module covers:

• Common income streams and how these are accounted for under SORP 2026
• The challenges that commonly arise in practice

Module 4 - Other Key Accounting and Disclosure Considerations

Charities have a unique position and a diversity of stakeholders. This module covers:

• The key disclosures found in charity accounts including allocation of costs, analysis of funds, staff and trustee remuneration and related party transactions
• Why key disclosures are required
• The specific consideration for lease accounting in charities

Module 5 - Independent Examination

A large number of charities are below the audit threshold, but many require an independent examination of their financial statements. This module covers:

• The key aspects of an independent examination including its purpose, who can act as an examiner and the procedures required
• The circumstances in which independent examiners and auditors are required to report matters to the charity regulator

Module 6 - Audit Considerations

An audit is an audit, right? Well, yes, it is, but there are a number of important differences between charities and other entities that can often present unique challenges to auditors of charities. This module builds on existing audit experience and applies it to areas that commonly arise in the audit of charities.

This pre-recorded webinar will be available to view from Monday 30th November 2026

Alternatively, you can gain access to this webinar and 2,400+ others via the MBL Webinar Subscription. Please email webinarsubscription@mblseminars.com for more details.