The next few years will be a challenging period for finance departments across the affordable housing sector, starting with the implementation of the latest Standard of Recommended Practice for housing associations and then moving on to implementing the inevitable changes that will arise out of the current review of UK Accounting Standards being undertaken by the Accounting Standards Board.
It´s not just housing associations either, with the new approach to funding local authority social housing now being enacted in the Localism Bill the financial reporting for local authority housing will need to consider how it will reflect the new funding model in its statutory financial reporting. For both parts of the sector this will become an increasing challenge as demands for increased efficiency mean that it is no longer possible to maintain resources in-house for large one-off finance projects. At i.s.4 we will be able to offer an experienced, flexible and cost effective resource to resolve these issues successfully.
At i.s.4 we are probably slightly unusual for a housing consultancy in that we have available an experienced team of enthusiastic financial accountants, who have spent many years finding pragmatic and practical solutions to financial reporting problems. This experience ranges from dealing with one off issues arising from business decisions, through to the implementation of new accounting requirements arising from the introduction of new accounting standards. The need to engage and liaise with a wide range of other stakeholders and advisers is a vital part of any successful financial accounting implementation; at i.s.4 we can provide that impartial and clear communication to non-finance staff and advisers.
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