A standard compliance assessment is a scheduled assessment to ensure ongoing compliance with the National Regulatory Code (NRC).
The standard compliance return consists of:
A summary of the components of the return is presented in Table 1.
Table 1 : Components of the standard compliance return
Standard compliance return | Tier 1 | Tier 2 | Tier 3 |
---|---|---|---|
Core financial data |
Tier 1 standard current financial return (incl. audit report) and 10 yr. forecasts | Tier 2 standard current financial return (incl. audit report) and 10 yr. forecasts | Tier 3 standard current financial return (incl. audit report) and 2 yr. forecasts |
Core non-financial data | Tier 1 standard non-financial metrics return | Tier 2 standard non-financial metrics return | Tier 3 standard non-financial metrics return |
Property data | Current property data list and generated community housing asset performance report (part of ‘Return’) | Current property data list and generated community housing asset performance report (part of ‘Return’) | Current property data list and generated community housing asset performance report (part of ‘Return’) |
Significant changes to policies & procedures | Updated policies & procedures | Updated policies & procedures | Updated policies & procedures |
Action to address compliance findings | Report outlining actions to close-out any recommendations or address compliance findings | Report outlining actions to close-out any recommendations or address compliance findings | Report outlining actions to close-out any recommendations or address compliance findings |
Community housing (CH) development programme | List of CH development programmes and their status (or equivalent) | List of CH development programmes and their status (or equivalent) | Not required unless Provider has CH development and upon request by Registrar |
Asset management | Achievement of current strategic asset management & development plan (or equivalent) | Achievement of current strategic asset management & development plan (or equivalent) | Achievement of current asset maintenance plan (or equivalent) |
Governance & management | Annual report (or equivalent) | Annual report (or equivalent) | Annual report (or equivalent) |
Risk management | Risk management plan and risk register (or equivalent) | Risk management plan and risk register (or equivalent) | Only upon request by Registrar |
Tenant / resident satisfaction | Latest tenant/resident satisfaction report | Latest tenant/resident satisfaction report | Only upon request by Registrar |
Appeals and complaints | Current appeals and complaints register (or equivalent document) | Current appeals and complaints register (or equivalent document) | Current appeals and complaints register (or equivalent document) |
Performance against business goals | Latest report to Board detailing past and current performance against goals/targets in business plan & strategic asset management / development plan | Latest report to Board detailing past and current performance against goals/targets in business plan & strategic asset management / development plan | Only upon request by Registrar |
In completing the return providers should note the following principles
22 Jul 2022