The Registered Housing Associations (Accounting Requirements) Order 1992

Explanatory Note

(This note is not part of the Order)

This Order lays down accounting requirements for housing associations registered with the Housing Corporation, with a view to ensuring that their accounts are prepared in the requisite form and give a true and fair view of their state of affairs, so far as their housing activities are concerned.

The Order applies to any period of account starting after 31st March 1992 (article 3(1)), except as provided for in article 3(2). Article 3(2) provides that, for periods of account starting after 31st March 1992 and ending before 31st March 1994, an association must comply either with the provisions of the Order or, if it so chooses, the provisions of the Registered Housing Associations (Accounting Requirements) Order 1988. Otherwise, the Order revokes the 1988 Order and the Registered Housing Associations (Accounting Requirements) (Amendment) Order 1989 in so far as they apply to England (article 1(2)).

Part I of the Order deals with citation, commencement and revocation (article 1), interpretation (article 2) and application (article 3) and the form in which required information may be prepared (article 4). Part II (articles 5 to 12) lays down general accounting requirements. Part III (articles 13 to 16) lays down requirements about the balance sheet and income and expenditure account. Part IV (articles 17 and 18 and the Schedule) lays down requirements about notes to the accounts. Part V gives the method for distinguishing, in the accounts, housing activities from other activities (article 19) and specifies how a rent surplus fund is to be constituted and shown in the accounts (article 20).