The eagerly awaited 2009 annual review of statutory reporting by Registered Social Landlords (RSLs) produced by accountants and business advisors Beever and Struthers is available now.
The review addresses accounting policies and practices adopted by the UK’s top 60 RSLs in their published accounts for 2007/08.
It specifically focuses on whether RSLs have adopted the 2008 Statement of Recommended Practice (SORP) early, and particularly in relation to the treatment of shared ownership sales.
Examples of those RSLs that have adopted SORP early are included and discussed in the review.
The review shows that just 11 out of the top 60 RSLs nationwide adopted the SORP 2008 early in 07/08 and that a further one RSL adopted the shared ownership aspect of the 2008 SORP only in that year.
The review also examines other key issues involving RSLs including stock transfer obligations, directors’ fees, dependence on profits from the sale of properties, loans repayable, stock transfer obligations and the risk posed by deflation to RSLs.
It looks at how RSLs are dealing with the recession and in particular, the tough economic times are being presented in their accounts.
Nick Stevens, from Beever and Struthers, said: “This is the 10th year we have produced this report and each year it grows in popularity and importance to RSLs, with both our clients and other RSLs around the country.
“Once again this is a unique opportunity for RSLs to read about the accounting policies of other RSLs as well as to view our model set of ‘Best Practice’ accounts for 2008/9.”
Beever and Struthers is a top four provider of audit and assurance services to more than 100 Registered Social Landlords nationwide.
To purchase a copy of the review call Almas Jooma on 020-8902 0809 or emailinfo@bandslondon.com.
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For further information please contact Michael Travers, senior account executive, SKV Public Relations 0161 838 7770 or e-mail michael.travers@skvpr.co.uk
