Charity accounts are the financial records of a charitable organization, highlighting both receipts like donations and expenditures like grants. They must comply with specific regulations depending on legal structure and size, including directives set by the Charities Act 2011 and Statements of Recommended Practice (SORPs) issued by the Charity Commission.
The Charity Commission is the government department responsible for overseeing charities, providing advice, and investigating their operations. Accountable to the Home Secretary and governed by the Charities Act 2011, it issues Statements of Recommended Practice (SORPs) for charity accounting.
