Launch of Regulation Office Annual Report and Financial Standard

Launch of Regulation Office Annual Report and Financial Standard

The first annual report from the Regulation Office was launched on Tuesday 14th July 2015.  The annual report provides an outline of the work of the Regulation Office to date and provides an analysis of the sector, based on the regulatory assessment of 142 approved housing bodies who submitted their annual returns. Copies of the publications will be sent out to all those signed up to the Code in the coming weeks. Following this, those approved housing bodies who have not yet signed up will also receive a copy.

Overall the results of the first assessment of the sector are encouraging and the interim Regulator states that there is a lot of evidence of good practice across the sector. To date 194 Approved Housing Bodies have signed up to regulation. The annual report can be accessed by clicking here.

In addition, the Regulation Office also launched the Financial Standard and Assessment Framework for the Regulation of Approved Housing Bodies. The framework is a further addition to the Voluntary Regulation Code and sets out the standard expected of each Approved Housing Body in relation to financial viability. The framework can be accessed here.

Importantly the implementation of the financial standard is on a phased basis as set out below:

Implementation Year Tier Level
2015 Pilot Group of Tier 3s
2016 All Tier 3 bodies and pilot group of Tier 2s
2017 All Tier 2 bodies and pilot group of Tier 1s
2018 All Tier 1 bodies

 

To read more, please refer to the ICSH or click here


July 23rd, 2015