Alastair
Unfortunately it is, If you have received
notification of the legacy in the previous year, it should be recognised in
that year as the interpretation is that we knew of the gift and therefore it is
counted. I fell foul of that 2 years ago with a gift of £500k.
Smaller gifts may slip through but the
larger ones wont I am afraid
Carol
Head of Legacies
RNID
EC1Y 8SL
From:
Sent: 23 December 2008 12:36
To:
Subject: [Legacymarketing]
Interpretation of SORP
Can anyone help with a clear interpretation of SORP
2005 paragraph 127
(and 125).
Our auditors are saying that if we have received a payment after the
year end, even if we did not know what the payment would be at year
end, we should reserve for it in the previous year's accounts.
Is this a common interpretation of the rules?
Alastair
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