ICAEW.com works better with JavaScript enabled.

Accounting for authorised funds

Accounting for authorised funds 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.

What's on this page?

  • Statements of Recommended Practice
  • Useful links
  • eBooks
  • Online articles
  • Books and articles from the library

Contact the Library

Expert help for your enquiries and research.

E  library@icaew.com

T  +44 (0)20 7920 8620

Statements of Recommended Practice

Issuing body

The Investment Association (previously known as the Investment Management Association) took over the role of SORP-making body from the Financial Services Authority in November 2002.

Sources for the SORP and associated guidance

Amendments to the Statement of Recommended Practice: Financial Statements of UK Authorised Funds
Amendments issued in June 2017 by the Investment Association to reflect changes to FRS 102.

Statement of Recommended Practice: Financial Statements of UK Authorised Funds
Revised SORP issued in May 2014 by the IMA.

Statement of Recommended Practice: Financial Statements of UK Authorised Funds – Additional Guidance
Guidance issued by the IMA in December 2015 to supplement the SORP.

Statement of Recommended Practice Financial Statements of Authorised Funds
SORP issued in October 2010 by the IMA.

Useful links

Statement of Recommended Practice (SORP)
Background information from the IMA on the SORP, including FAQs, additional guidance and links to the 2013 consultation.

Archived documents

2014

Public consultation on SORP
The IMA published an exposure draft of the revised SORP on financial statements of authorised funds in July 2013. This summary outlines the main changes and links to the SORP document. The consultation ended on 31 October 2013.

2008

Statement of Recommended Practice: Financial Statements of Authorised Funds
SORP issued in November 2008 by the IMA, to replace the 2006 SORP.

Statement of Recommended Practice: Financial Statements of Authorised Funds
Exposure draft for a revised SORP, as issued by the IMA on 18 April 2008.

2006

Statement of Recommended Practice: Financial Statements of Authorised Funds
SORP published by the IMA on 5 January 2006 to replace the 2003 SORP.

A press release announcing the SORP, entitled IMA unveils updated Statement of Recommended Practice for authorised investment funds, was issued on the same date.

SORP: Interim Reports – a clarification of paragraph 2.8 in the 2006 SORP was given in this bulletin, issued by the IMA on 20 June 2006.

2005

Statement of Recommended Practice: Financial Statements of Authorised Funds
Exposure draft for a revised SORP published by the IMA on 1 July 2005.

2003

The Statement of Recommended Practice for Financial Statements of Authorised Funds was a new combined SORP published by the IMA on 21 November 2003 to replace the Authorised Unit Trust SORP (1997) and OEIC SORP (2000). The press release announcing the SORP, entitled IMA launches its Statement of Recommended Practice (SORP) for Financial Statements of Authorised Funds, was issued on the same date.

The press release announcing the release of an exposure draft for the revised SORP, entitled IMA consults on an updated and combined statement of recommended practice (SORP) for authorised funds was issued on 16 May 2003.

2000

Statement of Recommended Practice: Financial Statements of Authorised Open-Ended Investment Companies
The predecessor to the 2003 SORP, issued in November 2000.

1999

Consultation paper 36 (FSA)
Exposure draft, issued December 1999.

eBooks

The Library provides full text access to a selection of key business and reference eBooks from leading publishers. eBooks are available to logged-in ICAEW members, ACA students and other entitled users. If you are unable to access an eBook, please see our Help and support advice or contact library@icaew.com.

Complete CFO handbook: from accounting to accountability, The

The book contains chapters on obtaining funding, corporate risk management, business strategy and financial planning, performance measurement and transfer pricing, asset management, cost management and finance function effectiveness.

Financial regulation in the EU: from resilience to growth

This publication looks to provide a bigger picture view of the impact and future of financial regulation in the EU, exploring the relationship between microeconomic incentives and macroeconomic growth, regulation and financial integration, and the changes required in economic policy to further European integration. Part 2 'Supervision of financial entities' covers subjects such as the supervision of regulatory capture in financial supervision, Markets in financial Instruments Directive (MiFID,MiFID II, MiFIR), EU insurance regulations (including Solvency II), the impact of Basel III on retail banks, regulation of Alternative Investment Funds (AiFMD) and the regulation of central counterparties (CCPs).

Fundamentals of fund administration: a complete guide from fund set up to settlement and beyond

Includes chapters on understanding the investment environment, hedge funds, mutual funds and OEICs, private equity, unit trusts, the role of the fund administrator, portfolio administration, net asset value, and valuations.

Showing 3 of 8 items

Terms of use: You are permitted to access, download, copy, or print out content from eBooks for your own research or study only, subject to the terms of use set by our suppliers and any restrictions imposed by individual publishers. Please see individual supplier pages for full terms of use.

Online articles

The Library provides access to leading business, finance and management journals. These journals are available to logged-in ICAEW members, ACA students and other entitled users subject to suppliers' terms of use.

Articles are available to logged-in ICAEW members, ACA students and other entitled users.

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 supply service.

Can't find what you are looking for?

If you're having trouble finding the information you need, ask the Library & Information Service. Contact us by telephone on +44 (0)20 7920 8620, by web chat or by email at library@icaew.com.

ICAEW accepts no responsibility for the content on any site to which a hypertext link from this site exists. The links are provided ‘as is’ with no warranty, express or implied, for the information provided within them. Please see the full copyright and disclaimer notice.