Why we are engaging with Viewpoint Housing Association Ltd (Viewpoint)
We are engaging with Viewpoint about its financial management and stock quality.
Viewpoint’s external auditors made a number of recommendations in their audit for the year ended 31 March 2023.
Viewpoint has identified reinforced autoclaved aerated concrete (RAAC) in some of its homes and other buildings. It has told us it has a plan in place to manage any associated risks. Viewpoint continues to investigate the extent of RAAC in its homes and other buildings.
What Viewpoint must do
Viewpoint must:
- send us by 30 April 2024 an update on its progress in implementing the recommendation in the audit report, and relevant Board reports and minutes;
- conclude its investigation into the extent of RAAC in its homes and other buildings as quickly as possible, and confirm the outcome to us; and
- tell us if there are any material adverse issues which might affect its capacity to manage the risks associated with RAAC.
What we will do
We will:
- review the update and Board papers, and engage as necessary;
- review any information Viewpoint provides about RAAC in its homes and other buildings and engage as necessary; and
- update our published engagement plan in the light of any material change to our planned engagement with Viewpoint.
Regulatory returns
Viewpoint must provide us with the following annual regulatory returns and alert us to notifiable events as appropriate:
- Annual Assurance Statement;
- audited financial statements and external auditor’s management letter;
- loan portfolio return;
- five year financial projections; and
- Annual Return on the Charter.
It should also notify us of any material changes to its Annual Assurance Statement, and any tenant and resident safety matter which has been reported to or is being investigated by the Health and Safety Executive or reports from regulatory or statutory authorities or insurance providers, relating to safety concerns.