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

Its consultation is seeking views 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, alongside other amendments.

The FRC’s changes to the accounting standards aim to enhance the quality of financial reporting in the UK, and help support the access to capital and growth of the businesses applying them.

Commenting on the launch of the consultation, AIC CEO, Richard Stone, 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’s consultation closes to responses on 30 June 2025, when all comments will be sent to the FRC.

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