Why we are engaging with Whiteinch and Scotstoun Housing Association (Whiteinch and Scotstoun)
We are engaging with Whiteinch and Scotstoun about its governance and financial management.
Whiteinch and Scotstoun has recently completed an Options Appraisal (OA). We have reviewed the report and are not assured the OA is underpinned by robust, comprehensive and up to date information in particular in relation to governance, stock condition information and future stock investment requirements. We are engaging with Whiteinch and Scotstoun to get assurance about its OA and its compliance with the Regulatory Standards of Governance and Financial Management (the Regulatory Standards).
Whiteinch and Scotstoun has told us it is unable to identify its stock investment requirements by age of build. We will engage with it to get assurance that its stock investment requirements are incorporated within its financial projections.
Whiteinch and Scotstoun notified us that its senior officer is retiring and we are engaging with it to seek assurance about how it is handling this event.
What Whiteinch and Scotstoun must do
Whiteinch and Scotstoun must:
- provide us with the assurance we require about its OA in relation to governance, stock condition information and the associated investment requirements and compliance with Regulatory Standards; and
- keep us informed about its plans to address the retirement of its senior officer.
What we will do
- engage as necessary with Whiteinch and Scotstoun regarding its OA in relation to governance, stock condition information and the associated investment requirements;
- liaise with Whiteinch and Scotstoun regarding the retirement of its senior officer; and
- update our published engagement plan in light of any material change to our planned engagement with Whiteinch and Scotstoun.
Whiteinch and Scotstoun must provide us with the following annual regulatory returns and alert us to notifiable events as appropriate:
- Annual Assurance Statement;
- audited financial statements and external auditor’s management letter;
- loan portfolio return;
- five year financial projections; and
- Annual Return on the Charter.
It should also notify us of any material changes to its Annual Assurance Statement, and any tenant and resident safety matter which has been reported to or is being investigated by the Health and Safety Executive or reports from regulatory or statutory authorities or insurance providers, relating to safety concerns.