RHS publishes regulatory judgement for Housing Association breach of economic standards

Article summary

The Regulator of Social Housing (RSH) has published a regulatory judgement for Shepherds Bush Housing Association downgrading it to G3 status for non-compliance with the governance element of the economic standards. RSH found that Shepherds Bush was unable to provide assurance that its governance arrangements were effective. RSH also noted that there were weaknesses in Shepherds Bush’s risk management, internal control frameworks and business plan reporting which led to a failure to identify the crystallisation of financial risks in sufficient time. RSH has stated that despite the downgrading, Shepherds Bush remains compliant with the financial viability element of the economic standards and retains V2 status.