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    “The Homes and Community Agency (HCA) downgraded 8,785- home Derwent Living to a G3 and V3, which means it is not compliant with regulatory standards”, according to reports by Inside Housing

    The following issues were put into consideration by the regulator:

    • It was not convinced that Derwent’s “risk management strategy is sufficiently developed for an organisation of Derwent’s size and complexity”
    • The housing association has not sufficiently developed it’s understandings of assets and liabilities to identify and manage the risk flows associated with the group’s activities and financial arrangements and
    • The information to the board sometimes lacks precision and clarity.

    Chief executive of Derwent, Peter McCormack, said:

    “While disappointed by the news of the downgrade we are working with the HCA to address their concerns. The board is developing an action plan with a view to regaining compliant status as quickly as possible.”

    What do you think? Please tweet comments @suppsolutions

    Picture Credit: Arbetay HA

    July 22, 2016 by Abimbola Duro-David Categories: Housing And Benefits

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