The SORP Committee is to be restructured to mark the union, broadening representation from across the third sector and the accountancy profession. Vacancies on the committee are to be advertised for the first time.

Andrew Hind, chief executive of the Charity Commission, said: “Working with OSCR, we want to ensure greater transparency in the appointment process and have decided that we should advertise for appointments to the new SORP Committee and also take a more active role in explaining to the sector both the SORP-making process and the challenging agenda to be faced as we move towards a convergence with international financial reporting standards.”