Consultation outcome

Consultation on changes to the Accounting Direction

• From: Regulator of Social Housing
• Published: 8 November 2018
• Last updated: 25 June 2019 — See all updates

This was published under the 2016 to 2019 May Conservative government

Applies to England

This consultation has concluded

Read the full outcome

Decision Statement: Accounting Direction 2019

PDF, 599 KB, 32 pages

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Decision Instrument RSH1: Accounting Direction 2019

PDF, 525 KB, 22 pages

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Detail of outcome

The new Accounting Direction takes effect for accounting periods commencing on or after 1 January 2019.

The feedback is published separately on this page.

The Decision Statement contains the final outcome of the consultation.

The Decision Instrument records the regulator’s decision about the Accounting Direction.

HTML versions of these documents can be found on the Decision Statement and Decision Instrument pages.

Feedback received

Accounting Direction consultation – Survey Monkey responses (redacted)

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Accounting Direction consultation – Survey Monkey responses

PDF, 136 KB, 30 pages

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Accounting Direction consultation – ICAEW representation

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Accounting Direction consultation – ICAEW representation

PDF, 223 KB, 4 pages

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Accounting Direction consultation – KPMG response

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Accounting Direction consultation – KPMG response

PDF, 160 KB, 3 pages

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Detail of feedback received

Responses to the consultation (with details redacted) are published above.

An analysis of the responses is outlined in the Decision Statement.

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Original consultation

Summary

The regulator is proposing a small number of revisions to the Accounting Direction to align with the new Value for Money Standard and to reflect other changes.

This consultation ran from
9:30am on 8 November 2018 to 6:30pm on 20 December 2018

Consultation description

The regulator proposes to revise its Accounting Direction for private registered providers of social housing.

The regulator’s changes to the Accounting Direction for private registered providers of social housing constitute primarily a change to the way providers prepare their accounts rather than being directive about the individual measures providers choose to take.

The proposed revisions have come about:

• as a result of the publication of a new Value for Money Standard which can be found on the Regulatory Standards page
• to accommodate the legislative abolition of the Disposal Proceeds Fund
• to reflect wider changes in legislation and changes in accounting standards and recommended practice

There are proposals for several other changes to the direction. These are the deletion of paragraphs where there is considered to be an equivalent and identical requirement already in FRS 102 to remove duplication. Other proposed amendments are to remove uncertainly or improve clarity. These have been identified within the consultation document.

It is proposed that any changes to the current direction following the completion of the consultation will have effect for accounting periods commencing on or after 1 January 2019.

Documents

Consultation on changes to the Accounting Direction

ODT, 101 KB

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Consultation on changes to the Accounting Direction

PDF, 364 KB, 20 pages

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Annex - Accounting Direction 2019 for social housing providers

PDF, 505 KB, 20 pages

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Published 8 November 2018
Last updated 25 June 2019 + show all updates

1. 25 June 2019

   Response to consultation published.

2. 8 November 2018

   First published.