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).
Deadline for comments is 30 June 2025.
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.
- ENDS -
Notes to editors
- The Association of Investment Companies (AIC) represents a
broad range of investment trusts and VCTs, collectively known as
investment companies. The AIC's vision is for closed-ended
investment companies to be understood and considered by every
investor. The AIC has 300 members and the industry has total
assets of approximately £260 billion.
- For more information about the AIC and investment trusts,
visit the AIC's website.
