Comment deadline for FE/HE SORP ED
The Further and Higher Education SORP Board (the SORP Board) has published an Exposure Draft (ED) on a revised Statement of Recommended Practice (SORP) setting out proposals for accounting for further and higher education institutions in the UK.
The ED updates the previous SORP to include the requirements of FRS 100 ‘Application of Financial Reporting Requirements’, FRS 101 ‘Reduced Disclosure Framework’ and FRS 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland'; the three main standards that were introduced as a package to replace UK GAAP.
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