Page updated
6 March 2026
FCA is consulting on Handbook amendments to facilitate the application of the 2025 edition of the SORP. The consultation closes on 13 April.
SORP for the Financial Statements of Authorised Funds
The Financial Reporting Council (FRC) recognises the IA as a SORP-making body for the purpose of developing and issuing SORPs. This SORP was prepared in accordance with the FRC’s Policy on developing SORPs by an independent SORP Working Party established by the IA.
SORP applicable for periods beginning on or after 1 January 2026
The 2025 edition of the SORP was subjected to public consultation in April 2025.
FCA rules continue to require authorised funds to prepare their financial statements in accordance with the SORP issued in May 2014 (and updated in June 2017). The FCA has proposed rule amendments to facilitate the application of the 2025 edition of the SORP.
The 2014 edition of the SORP was subjected to public consultation in July 2013.
The 2017 amendments to the SORP were made in accordance with the shortened administrative procedure set out in the FRC's Policy.
In October 2018 the IA produced a webinar setting out how the IA carries out SORP reviews and the history of the SORP.
