The Financial Reporting Group started life back in the 1990s as the Accounting Standards Group but was renamed around 2005. The aims remain to improve the transfer of knowledge between BUFDG, the representative body for higher education finance staff in the UK, the main audit firms, and relevant sector bodies. The main objective is to achieve consistency of approach across the sector on issues of common concern. BUFDG invites members to raise post-audit issues to form the basis for discussions, to iron out any misunderstandings or differences of opinion among HEPs and their auditors, and navigate changes that impact financial statements. The group also coordinates technical requirements arising from the Further and Higher Education Statement of Recommended Practice (FEHE SORP).
The Terms of Reference for the group are available to download.
The FRG relies on input from our members. If you wish to raise any issues please post to the discussion board or contact the Secretary.
BUFDG members can access all our Financial Reporting and SORP resources via our Knowledge Hub pages.
KPMG impact, planning and accounting slides from SORP 2026 transition webinar recorded May 2026.
20-May-26
SORP 2026 webinar covering impact assessment, transition planning, and stakeholder considerations.
19-May-26
PwC stakeholder engagement slides from SORP 2026 transition webinar recorded May 2026.
19-May-26
Mary White, CFO, University of Portsmouth
Sally Crabb, Group Financial Controller, University of Southampton
Matthew Knight, CFO, University of Surrey
Peter Fielding, external consultant (ex-Deputy Director of Finance, Lancaster University)
Permanent members:
Co-opted members:
Observers:
