Conclusion of Inputs Matter - valuing of volunteers proves controversial

13th April 2004

The Charity Finance Directors' Group have concluded the first stage of their work on inputs into charity accounts. Many constructive responses from CFDG members and the general public were received during the consultation process. However, by far the most controversial proposal was that a value for volunteer time should be included in the financial statements of charities.

CFDG issued Inputs Matter: Improving the Quality of Reporting in the Charity Sector in November last year. It contained a bold collection of proposals that we hoped would improve the quality and consistency of charity annual reports. CFDG is in close contact with the SORP review committee, which has considered the recommendations in the "Inputs Matter" report as part of its current review.

Les Jones, Chairman of the project said: "We are very impressed by the responses we had to Inputs Matter. Respondents agreed in principle with most of the recommendations, and many of the concerns associated with the valuing of volunteers related to the practicalities of the proposal rather than the principle."

Pending publication of the SORP committee's recommendations CFDG is seeking funding for the next stage of the project. Hopefully this will enable us to develop working examples, and examine how the recommendations can be applied in practice. The second stage of the project will particularly focus on how to develop practical systems for valuing volunteer time.

 

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