SORP 2013 Consultation
In July 2013 the IMA proposed revisions to the Statement of Recommended Practice (SORP) for the financial statements of UK authorised funds.
The proposed changes took account of a number of changes to the regulatory and accounting frameworks within which authorised funds operate. The main changes include:
The IMA also took the opportunity to propose a template for presenting information about performance and charges during the reporting period.
Following a public consultation, a revised SORP was issued in May 2014.