Part I Regulation of Housing Associations
Accounts and audit
24 General requirements as to accounts and audit.
1
The Secretary of State may by order lay down accounting requirements for registered housing associations with a view to ensuring that the accounts of every registered housing association—
a
are prepared in the requisite form, and
b
give a true and fair view of the state of affairs of the association, so far as its housing activities are concerned, and of the disposition of funds and assets which are, or at any time have been, in its hands in connection with those activities.
2
The method by which an association F1which is a registered charity shall distinguish in its accounts between its housing activities and other activities shall be laid down by orders under subsection (1).
3
The accounts of every registered housing association shall comply with the requirements laid down under this section; and the auditor’s report shall state, in addition to any other matters which it is required to state, whether in the auditor’s opinion the accounts do so comply.
4
Every registered housing association shall furnish to the F2Corporation a copy of its accounts and auditor’s report within six months of the end of the period to which they relate.
5
An order under this section—
a
may make different provision with respect to different cases or descriptions of case, including different provision for different areas F3or for different descriptions of housing associations or housing activities, and
b
shall be made by statutory instrument which shall be subject to annulment in pursuance of a resolution of either House of Parliament;
and the provisions of such an order shall not apply in relation to a period beginning before the day on which the order comes into force.
F46
For the purposes of subsection (5)(a), descriptions may be framed by reference to any matters whatever, including in particular, in the case of housing activities, the manner in which they are financed.