RP Issues - A Briefing For Registered Providers Of Social Housing.
Mondaq Business Briefing › Nbr. 2009, January 2009
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RP Issues - A Briefing For Registered Providers Of Social Housing.
In this edition of RP issues, we look at a help sheet for the SORP 2008 impairment provision requirements. We also discuss the results of our Housing Association Executive Reward survey, which show a dramatic pay gap between housing association groups and single associations.
REDUCING THE UNCERTAINTY ABOUT IMPAIRMENT PROVISIONS For RPs left confused by the SORP 2008 requirements for impairment provisions, help is now available. There has been a huge amount of discussion and concern about potential impairment provisions that need to be made to the carrying value of housing properties in the 2009 financial statements. There are fears over the consequent effects this may have on covenant compliance, which have been made worse by a lack of clarity over precisely how the impairment judgement should be assessed. Although there is commentary in the 2008 Statement of Recommended Practice (SORP), which is unchanged from previous years, its precise meaning has been very much open to interpretation and for most registered providers (RPs) has previously not had to be applied in any significant way. With this in mind, both the SORP working party and the Institute ...See the full content of this document
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