Regulator encourages Forth to speed up information regarding potential failures
Forth Housing Association has been “slow in providing some information” regarding two independent investigations into potential failures of governance and internal financial control, according to the Scottish Housing Regulator.
In an updated engagement plan for Forth Housing Association, the Regulator said it is engaging with the landlord about its governance and financial management.
“We have received information that means we are reviewing the regulatory status of Forth. We will update the regulatory status as soon as this review is complete,” it said.
The plan added: “The information relates to potential failures of governance and internal financial control. These matters are now subject to two independent investigations and we require Forth to provide us with a copy of the final report of each investigation as soon as it is complete. In addition we require Forth to provide us with information regarding its leadership capacity, risk management, management of conflicts of interest and its consideration of its compliance position.
“Forth has told us it wants to work transparently with us though it has been slow in providing some information.
“We continue to seek further information and assurance from Forth about governance and leadership capacity, its improvement action plan and financial review.”
Forth is developing new homes and has plans for development projects in 2021/22. The Regulator said it is now seeking assurance that Forth remains a suitable recipient of public and private funds.
In order to allow the Regulator to complete its review of its regulatory status, it has asked Forth to provide it with a timescale for the report of the independent investigations and a copy of each report; the further information that we require on risk management, conflicts of interest and compliance; and an assessment of Forth’s development plans against our good practice principles.
Forth Housing Association has been contacted for a response.