Regulator updates recommended practice for business planning
The Scottish Housing Regulator has published a refreshed version of its Recommended Practice on Business Planning for RSLs.
The publication focuses on key regulatory messages and is now principles-based, less prescriptive and much shorter than the previous version published in 2012. It aims to help RSLs comply with the Regulatory Standards of Governance and Financial Management.
The new version also takes account of SHR’s recent experience in regulating RSLs, current key risks and issues identified by stakeholders and good practice.
Ian Brennan, director of regulation (finance & risk), said: “This new Recommended Practice builds on the principles of good business planning set out in the previous version. We have refreshed it to ensure that it remains relevant and reflects the significant changes in RSLs’ operating environment since 2012.
“We asked a number of RSLs, membership bodies, auditors and lenders to contribute to this review. Their feedback has been invaluable, helping us to produce Recommended Practice which RSLs can apply in a proportionate way to their size and circumstances.”