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The Regulator of Social Housing (RSH) has launched a new consultation looking at the Accounting Direction 2022.
The RSH say the changes are being thought about to prevent against "duplication and inconsistency" in reporting.
Any changes that may be made to the Accounting Direction will come into force for accounting periods commencing 1 January 2022.
In summary, the following changes are proposed:
- To provide further clarity and explanation of segmental reporting requirements
- To provide a more robust definition of the key terms driving segmental reporting
- To link to other resources produced by the RSH which provide supporting information on the preparation of disclosures
- To clarify that expectations on VFM reporting are set out in the Code of Practice and that reporting in the accounts is required at a group level.
The full document can be found here.