You don't have to be a cynic to favour this interpretation--such changes can also be seen as the gradual working through of revisions to the charity reporting requirements and the Charity Statement of Recommended Practice
(SORP) in the early 1990s.
Services Should Be Carried Out In Compliance With Irish Law And Accounting Standards Issued By The Financial Reporting Council And Promulgated By The Institute Of Chartered Accountants In Ireland (Generally Accepted Accounting Practice In Ireland), Including Frs 102 "The Financial Reporting Standard Applicable In The United Kingdom And The Republic Of Ireland" And The Statement Of Recommended Practice
For Accounting By RegType Of Contract: Services
The revised statement of recommended practice
for charities (SORP 200) does not define the level at which reserves should be set.
The new statement of recommended practice
(SORP) "Accounting and reporting by charities" was made available on 25 October on the Charity Commission's website (www.
But one thing to be aware of is that limited liability partnerships will be the subject of a new statement of recommended practice
issued by the Accounting Standards Board.