AIC publishes consultation on statement of recommended practice (SORP)

The Association of Investment Companies (AIC) has published a public consultation on the Statement of Recommended Practice: Financial Statements of Investment Trust Companies and Venture Capital Trusts (the AIC SORP).

The consultation paper invites comments on the proposed amendments to the AIC SORP which reflects changes made by the Financial Reporting Council (FRC) to the UK accounting standards last year and other amendments.

The changes to the UK accounting standards by the FRC were designed to enhance the quality of UK financial reporting and help support the access to capital and growth of the businesses applying them.

Richard Stone, CEO of The Association of Investment Companies (AIC), said: “We’re inviting all investment companies to contribute to the public consultation on the AIC’s Statement of Recommended Practice on Financial Statements of Investment Trust Companies and Venture Capital Trusts. This reflects the changes made to UK accounting standards by the FRC and other amendments. 

“The AIC SORP addresses sector specific topics for investment companies and provides helpful guidance on the application of accounting standards.”

The AIC welcomes responses to the paper from interested stakeholders by close of business on 30 June 2025. All consultation responses will be sent to the Financial Reporting Council at the end of the process.

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