Latest News Wed, Sep 21, 2016 3:41 PM
Social housing providers are making a vital contribution to housing supply but will have to manage the risks of being involved in developing new properties for sale, according to the Sector Risk Profile 2016 published by the Homes and Communities Agency (HCA).
Now in its fifth edition, the annual risk profile by the social housing regulator aims to help registered providers sustain their financial viability by setting out some of the main challenges facing the sector and highlighting how the regulator will seek assurance that boards are managing those risks effectively.
In recognition of the important changes to the sector’s operating environment that have taken place over the last year, this year’s publication also includes a range of other strategic risks that could threaten compliance with other aspects of HCA’s regulatory framework.
The main points for boards that are highlighted in this year’s publication include the need:
Julian Ashby, Chair of the HCA Regulation Committee said: "The sector risk profile will help boards to understand and manage the key risks to their businesses.
"In what is becoming an increasingly complex operating environment, it is more important than ever for boards to ensure that their skills and risk management evolve appropriately. In particular, where providers move into new markets, or increase their sales activity, it is vital that boards understand the associated risks and ensure that their business plans are resilient to any shortfall in receipts.
"We will continue to seek assurance through in-depth assessments and stability checks that governance arrangements are sufficiently robust to ensure compliance with our standards."
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