UK charity accounting: An exercise in widening stakeholder engagement

Ciaran Connolly, Noel Hyndman and Danielle McConville

The British Accounting Review, 2013, vol. 45, issue 1, 58-69

Abstract: Given the economic and social impact of the charity sector in the United Kingdom (UK), the importance of good governance has been recognised as a basis for underpinning effective and efficient performance, and for ensuring that charities meet the legitimate aspirations of key stakeholders. A major aspect of this is high-quality accounting and reporting. Over the past 25 years attempts have been made to improve this through the medium of successive, evolving versions of a Statement of Recommended Practice (SORP) for charities. As a foundation for the future review of the SORP (expected to be published in 2015), the SORP Committee undertook its largest ever consultation on an accounting pronouncement. This paper presents the findings of that consultation and, analysing them using stakeholder theory, concludes that this ambitious exercise facilitated much wider stakeholder engagement than had been experienced before and has the potential to legitimise further the SORP.

Keywords: Accounting; Charities; Reporting; Stakeholders (search for similar items in EconPapers)
Date: 2013
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Citations: View citations in EconPapers (12)

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Persistent link: https://EconPapers.repec.org/RePEc:eee:bracre:v:45:y:2013:i:1:p:58-69

DOI: 10.1016/j.bar.2012.12.006

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