Accounting for the banking sector is a specialist area that requires expertise and an understanding of the industry. On this page you can access a range of articles, books and online resources providing quick links to Statements of Recommended Practice, guidance and news.
Statements of Recommended Practice
Issuing body
Statements of Recommended Practice (SORPs) related to banking were issued by the British Bankers' Association (BBA) and the Irish Bankers' Federation.
Sources for the SORP and associated guidance
BBA Statements of Recommended Accounting Practice (SORPS)
Single document giving full text off all SORPs issued by the BBA and IBF, published in January 2006.
In January 2006 the BBA published A technical note on the status of the BBA's Statements of Recommended Accounting Practice (SORPs). The note states that ‘in essence, the BBA has concluded that for banks following International Financial Reporting Statements its SORPs have been superseded’.
On 31 December 2006 the other four SORPs issued by the BBA – Advances, Contingent liabilities and commitments, Derivatives and Securities – were withdrawn.
Useful links
Archived documents
SORPs withdrawn in 2006
On 31 December 2006 the following SORPs were withdrawn:
- Contingent liabilities and commitments (1996)
- Derivatives (2001)
- Securities (1990)
- Advances (1997)
Review of the banking SORPs (2001)
The BBA reviewed the banking SORPs in 2001 and concluded that, at the time, revisions were only required to the derivatives SORP. The exposure draft was published on 22 May 2001 alongside an amended version of the SORP, which can be accessed at Statement of Recommended Practice on Derivatives. The amended version shows the SORP as it would look under changes proposed by the exposure draft but is not the final published SORP.
Online articles
The library provides access to a range of articles in full text from leading business, finance and management journals.
You will need to be logged-in to the website to gain full access to the range of articles available online.
Articles and books in the Library collection
To find out how you can borrow books from the Library please see our guide to book loans.
You can obtain copies of articles or extracts of books and reports by post, fax or email through our document delivery service.
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