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New Model Financial Statements
28 March 2019 Matt Sisson, Projects and Membership Manager
The Model Financial Statements have now been updated to incorporate the 2019 SORP (including aligning terminology to the new SORP), enhance the existing statements and include the OfS requirements. The updated MFS clearly identify what is an enhancement to existing disclosure requirements and what changes relate to SORP 2019 and therefore not relevant until the year ending 31 July 2020 (unless early adoption in full).
The MFS are not exhaustive. For full requirements refer to FRS 102 and SORP 2019. It should also be noted that audit firms will have their own model company statements and so institutions can also reach out to their auditors for disclosure examples / guidance.
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28 March 2019 
Matt Sisson, Projects and Membership Manager
