The Registered Housing Associations (Accounting Requirements) Order 1988

General accounting requirements

4.—(1) The accounts of every large association and every co-ownership society shall comply–

(a) if the association is not an almshouse, with the requirements contained in this Order except Schedule 7 hereto;

(b) if the association is an almshouse, with the requirements contained in this Order except articles 6, 7 and 8 and Schedules 2 to 7 hereto.

(2) The accounts of every small association which is not a co-ownership society shall comply either with the requirements specified in paragraph (1)(a) or (b) of this article (as appropriate) or with those requirements amended by Schedule 7 to this Order.

(3) Nothing in this Order shall prejudice or affect the duties imposed by section 3(1) of the 1968 Act or, as the case may be, paragraph 2 of Schedule 3 to the 1985 Act insofar as they require a true and fair view to be given of the state of affairs of an association and of its income and expenditure; and accordingly where it is necessary to depart from the requirements of this Order so as to give such a true and fair view–

(a) nothing in this Order shall prevent such a departure from those requirements, but

(b) the fact of any such departure, the reasons for it and its effect shall be recorded in the notes to the accounts of the association.

(4) Nothing in this Order shall prevent the accounts of an association from giving more information than is required by this Order.

(5) Save for the information required to be shown in accordance with Part I of Schedule 1 to this Order, paragraph 12 of Part II of Schedule 1 to this Order and paragraph 14(f) to (i) of Part III of Schedule 1 to this Order, amounts which in the particular context of any provision of this Order are not material may be disregarded for the purposes of that provision.

(6) Any requirement in this Order to prepare information in a specified form shall be satisfied if it is prepared in a form substantially to the like effect.erial may be disregarded for the purposes of that provision.

(6) Any requirement in this Order to prepare information in a specified form shall be satisfied if it is prepared in a form substantially to the like effect.