We have introduced a new option for entities registered as Charitable Incorporated Organisations (CIOs). This format, available exclusively under the Charity Template, ensures compliance with the Charities Act 2011, guidance issued by the Charity Commission for England and Wales, and the applicable Statement of Recommended Practice (SORP) for Charities, by automatically including appropriate section citations throughout the accounts where applicable
This document outlines the prerequisites, configuration settings, and operational procedures for utilizing this new functionality.
Prerequisites
To utilise this option, the following prerequisites must be met:
Jurisdiction Requirement: The Country of Incorporation must be UK, England or Wales.
Key Information: You must enter the Charity registration number in England and Wales.
Template: The option is only available when using the Registered Charity Template.
Financial Reporting Standard: It is strongly recommended to have either Follow FRS 102 or Follow FRS 102 Section A selected in the accounting options
SORP Applicability:
CIOs preparing accruals accounts and having gross income over £250,000 must follow the Charites SORP.
CIOs with income of £250,000 or less may use receipts and payments accounts and are not required to follow SORP.
Activating the CIO Format
To activate the Charitable Incorporated Organisation format:
Navigate to Compliance Database > Legislation, Compliance and Disclosure > Accounting Options
Locate and check the option: Follow Charitable Incorporated Organisation?
Implementation
When properly configured, the system will automatically incorporate appropriate section representations throughout the accounts wherever applicable, ensuring compliance with the Charities Act 2011, Charity Commission guidance, and the Charities SORP. This streamlines the accounts production process for CIOs while maintaining regulatory compliance.