The new Charity SORP was launched in October 2025 following approval from the Financial Reporting Council (FRC). It has an effective date of 1 January 2026, meaning that 31 December 2026 will be the first year of application.

The new SORP brings in 3 major changes:

• the 5-step revenue recognition process
• leases onto the balance sheet, and
• tiered narrative reporting for charities of varying size.

Our charity sector experts explore the changes in more detail in our Charity SORP update webinar recording and can support you through the process of transition.