Value For Money (VFM) Training For Board Members In England

A picture of a red dice with the words Money, Value and Time on three faces

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Although the Regulator of Social Housing has been revising its approach to regulation during the pandemic, compliance with the Regulatory Standards is still paramount.

The Regulator’s statement in June stated that “being able to demonstrate the delivery of VFM remains an important part of the transparency commitment of the sector”

Registered providers continue to struggle to fully comply with the revised VFM Standard, as noted by the Regulator in their ‘Value for money metrics and reporting 2019’ with the comment “as in 2018, the quality of reporting, both on the metrics and the extent to which it met the Standard’s other requirements was mixed”.  With ‘virtual’ IDAs recommencing soon, compliance with the VFM Standard has been brought sharply back into focus.

This 1.5 hour training will provide Board Members with an overview of the updated Standard, along with tips and suggestions of how to ensure compliance with the Standard, particularly in relation to the reporting on VFM within the financial statements.  It is important that providers do not lose sight of VFM during these difficult times when their focus may be on other issues. The ongoing issues related to Covid-19 may also impact upon VFM reporting and the webinar will consider some of the points that providers should address in their VFM reports.

The session will highlight some of the common failures that have occurred in providers’ attempts to comply with the Standard and calculate the VFM metrics.  Bill will be providing insights gained from reviewing tens of providers’ accounts as part of their 2019 audit, writing the VFM section of the Top 100 Review for a leading accountancy practice in the sector and feedback from the Regulator after a recent IDA process.

The program covers:

  • An overview of the updated VFM Standard
  • What the Regulator expects?
  • Common failures
  • Tips and suggestions of how to ensure compliance
  • How Covid-19 may impact on VFM reporting

Details

Coming soon – Contact us to express interest in the next session.

The program is also available tailored to your organisation.

We are also able to offer an extended, bespoke version of this training tailored to your organisation’s position and needs. Please contact us for more details and a specific quote.

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