Get Ready to Submit Your Annual Assurance Statement

As we approach October, most Registered Social Landlords (RSLs) are gearing up to submit their Annual Assurance Statement (AAS). The AAS is a crucial declaration by RSL governing bodies, confirming their regulatory compliance, and plays a vital role in the governance framework for housing associations and co-operatives in Scotland.

The AAS encompasses the Scottish Housing Regulator’s (SHR) regulatory requirements, legal obligations concerning housing and homelessness services, equalities and human rights, as well as tenant and resident safety. While organisations typically submit a concise summary outlining their compliance status and areas for improvement, the behind-the-scenes work involved in providing this assurance is extensive.

It is imperative for the entire governing body to comprehend their responsibilities and actively participate in understanding the organisation’s compliance status and the evidence supporting it. The AAS process was initiated in April 2019 with the regulatory framework update, and the first AAS deadline was set for October 31, 2019. However, the challenge lies in keeping the governing body engaged and involved in the process, despite minimal updates to the regulatory framework since then.

Engaging the governing body in this process is essential. Whether through separate meetings dedicated to the topic or incorporating it into regular Committee/Board meetings, each organisation may adopt a slightly different approach based on what works best for them. Various tools and guides are available to assist RSLs in outlining what the governing body should focus on. Striking a balance by providing sufficient information to assure the committee or Board without overwhelming them is a challenging task.

Upon receiving the AAS, the SHR will issue a “regulatory status” along with an engagement plan. Depending on the outcome, the SHR may request updates on areas of non-compliance and should be informed of any changes throughout the year through notifiable events, as per their guidance.

The expectations from governing body members have evolved over the years, while their available time as volunteers remains limited. Ensuring that they understand what they are supposed to look for in this process and making information easily accessible can greatly facilitate the exercise for everyone involved.

Looking ahead to September, Share is offering the ‘Returning your Assurance Statement’ course. This course covers the four key areas of compliance that governing body members should be mindful of, different approaches organisations take towards assurance, and how to monitor action plans and report on non-compliance areas. It is an ideal course for those new to a governing body or individuals seeking a refresher as the AAS deadline approaches.