The draft is intended to update the current practice note, PN14, which was originally issued in 1997. The document contains revisions intended to take into account the changes in regulation that affect registered social landlords since PN14 was launched.
These include the publication of internal controls assurance information by the housing corporation, changes in the names and functions of the regulators of registered social landlords and the issue of new standards from the APB.
Richard Fleck, chairman of the APB, said: ‘Housing associations have an important and growing role in the UK, and the law and regulations relating to them are complex and vary by jurisdiction. Regulatory arrangements have changed quite significantly over the past few years.
‘I hope that auditors of registered social landlords will find the revised practice note provides them with helpful guidance in carrying out their work.’
Consultation on the practice note ends on 12 May.
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