The Charities Accounts (Scotland) Amendment Regulations 2019
| Jurisdiction | Scotland |
| Citation | SSI 2019/393 |
| Year | 2019 |
2019 No. 393
Charities
The Charities Accounts (Scotland) Amendment Regulations 2019
Made 14th November 2019
Laid before the Scottish Parliament 18th November 2019
Coming into force 1st January 2020
The Scottish Ministers make the following Regulations in exercise of the powers conferred by sections 44(4) and (5) and 103(2) of the Charities and Trustee Investment (Scotland) Act 20051and all other powers enabling them to do so.
Citation and commencement
1. These Regulations may be cited as the Charities Accounts (Scotland) Amendment Regulations 2019 and come into force on 1 January 2020.
Application
2. These Regulations do not apply to accounts covering financial years which began before 1 January 2019.
Amendment to the Charities Accounts (Scotland) Regulations 2006
3.—(1) The Charities Accounts (Scotland) Regulations 20062are amended in accordance with paragraph (2).
(2) In regulation 1(2) (interpretation), for the definition of “the SORP” substitute—
““the SORP” means the Statement of Recommended Practice entitled “Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (second edition - October 2019)”, published by the Chartered Institute of Public Finance and Accountancy, London, in 20193;”.
AILEEN CAMPBELL
A member of the Scottish Government
St Andrew’s House,
Edinburgh
14th November 2019
EXPLANATORY NOTE
(This note is not part of the Regulations)
These Regulations amend the Charities Accounts (Scotland) Regulations 2006 (“the principal Regulations”). The principal Regulations, amongst other things, require certain charities to prepare fully accrued accounts in accordance with the methods and principles of the Statement of Recommend Practice for charities (referred to as “the SORP” in the principal regulations).
Prior to the coming into force of these Regulations, for financial years beginning on or after 1 January 2019 the principal regulations define “the SORP” as comprising three separate publications which must be read together—
Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland...
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