Updated SORP for further and higher education 2019 published
Released 3 October 2018
Universities UK has published an updated Statement of Recommended Practice: accounting for further and higher education 2019 edition.
This Statement of Recommended Practice (SORP) reflects the Amendments to FRS 102 – Triennial review 2017 – Incremental improvements and clariﬁcations issued by the Financial Reporting Council in December 2017. It will be effective for financial periods beginning on or after 1 January 2019. As previously, the SORP combines the requirements of institutions of both further and higher education throughout the United Kingdom, reflecting the collaboration between the key stakeholders – Further and Higher Education funding and regulatory bodies, sector representative bodies, and accounting practitioners – all of whom are represented on the FE / HE SORP Board.
For more information, see Statement of recommended practice: accounting for further and higher education 2019 edition.