SORP definition
Examples of SORP in a sentence
The charities statement of recommended practice (SORP 2005, as revised 2016) (the statement of accounting practice which charities must comply with) and the Charities (Accounts and Reports) Regulations 2008 (SI 2008/629) require the Trustees to make a statement in their annual report that confirms the major risks to which the School is exposed (as identified by the Trustees) have been reviewed and that systems have been established to mitigate those risks.
At age 61, the amount provided will be at least $50,000; at age 62, at least $100,000; at age 63, at least $150,000; at age 64, at least $200,000; and at age 65, at least $250,000, with such amounts comprised of the amount calculated under the SORP, and if lesser than the amounts previously cited, through additional payments made by the Company to the Executive.
Note: where a Provider has adopted the SORP for Charities, the funding provided is considered a performance grant and should be shown as restricted income.
Other than as specifically agreed to in writing by ADP, each CDK Employee shall, for all purposes of the ADP SORP, be treated as terminating employment with ADP and with all of its Affiliates at the Effective Time.
The accounts should be prepared in accordance with the relevant statutes and specific accounts direction issued by the Department as well as the FReM and SORP.