We retain our G1/V1 status following a Regulatory In-depth Assessment
We are delighted to announce that we have retained our G1/V1 status following a recent IDA assessment undertaken by the Regulator of Social Housing (RSH).
The purpose of the IDA is for the RSH to test whether registered providers are meeting the expectations of the RSH’s Economic Standards. These include the Governance and Financial Viability Standard, the Rent Standard, and the Value for Money Standard.
G1 is the highest rating a housing provider can achieve, showing that we meet the RSH’s governance requirements.
V1 is the highest rating for financial viability, indicating that we meet the RSH’s viability requirements and have the financial capacity to deal with a wide range of adverse scenarios.
Our Chief Executive Kevin Rodgers said: “Retaining the highest rating for both our governance and financial viability is a massive achievement.
“The IDA process is a key regulatory tool for the RSH which takes place every few years.
“It consists of extensive document submission followed by the RSH IDA team holding two roundtable interviews with our Executive Leadership Team, interviewing our Board Chair and the Chair of our Audit and Risk Committee. The RSH also observed our Board meeting in February as part of their assessment.
“The whole process takes several months, and lot of hard work has gone into us achieving this fantastic result.
“The IDA team’s closing remarks about Citizen were that our documents and engagement were very transparent, and we presented as a business that knows what it wants to achieve.”
You can read the announcement from the RSH about us retaining our G1/V1 status here.