Accounting and Reporting

Treasurers > Reporting and Accounting

Reporting and Accounting

The Charity Commission has produced clear guidance on how charities should account for their finances, and for reporting this. The rules for doing this are termed "SORP2005" - Statement Of Recommended Practice 2005.

Two different methods of accounting are permissible, depending on the gross income of the PCC - click here to find out which method applies to your PCC.

Your accounts will need to receive external scrutiny. Whilst the very largest PCCs will require an audit, smaller PCCs should be independently inspected. We offer guidance on how to decide which level of scrutiny your accounts require, how to appoint an external examiner, and their duties.

With your accounts, you will need to present a Report. This should often be led by the PCC Secretary or the Incumbent. The Charity Commission has issued some rules on what must be covered - click here to find out more.

RESOURCES TO HELP

There are two publications which will be invaluable for PCC Treasurers :

The Charities Act and the PCC - SORP 2005 edition contains all the advice needed to prepare accounts under SORP2005. A copy of it can be downloaded here as a pdf (965kb). A copy of the book, or a simpler guide for parishes with income under £100,000, can be ordered from Church House Bookshop (full guide) and (shorter guide) )