It is widely acknowledged that: ‘A charity's accounts focus on its financial position and financial performance. In isolation, this information does not give the user a rounded overview of what has been achieved from the charity's activities and the resources used in their delivery. The report and accounts taken together should provide a picture of what the charity has done (its outputs) or achieved (its outcomes), or what difference it has made (its impact).’

Charity law and the SORP therefore require further information to be provided in the form of an annual report to be publicly accountable and should provide a fair, balanced and understandable review of the charity.