What the document covers
The statement explains the choice of reporting framework for charities and distinguishes those with significant investments in non-charitable entities. It is not a universal single-standard instruction.
Specific requirements and implications
The statement links mandatory FRS use to significant investments in non-charitable subsidiaries, associates or joint ventures. Other eligible charities could choose the charity framework, subject to scope exclusions and phased implementation. Switching frameworks without a compelling reason was discouraged to preserve comparability. Even an FRS-reporting charity had additional loan-disclosure obligations. The statement's 2011 and 2015 implementation dates describe the original rollout rather than a new deadline for established charities.
Official source
A concise, independent Apex Gateway guide based on the official English source, not a reproduction of the complete document. Consult the original for full conditions, exceptions and subsequent updates.
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