The Regulator of Social Housing has launched a consultation on proposals to make minor revisions to the Accounting Direction for private registered providers of social housing.
5 December 2018
Legislation permits the regulator to make directions to PRPs about the way providers prepare their accounts, and to profit-making providers in respect of social housing activities. The Accounting Direction ensures that providers report a common minimum set of disclosures within their accounts and that various aspects of compliance with the Regulatory Standards are disclosed and certified within the published accounts.
The proposed changes aim to:
- align the Direction with the requirements of the Value for Money Standard introduced in April 2018
- accommodate the legislative abolition of the Disposal Proceeds Fund
- reflect other changes in legislation, in accounting standards and recommended practice.
Any changes made to the Accounting Direction will come into force for accounting periods commencing 1 January 2019 although early adoption will be encouraged.
More details can be found here. Responses can be made through an online survey response, or by email or post.
The six-week consultation, launched on 8 November 2018, remains open until 20 December 2018.