Risks for housing associations in the face of benefit reforms need to be flagged by auditorsThe Financial Reporting Council (FRC) recently published Practice Note 14 (Revised), The Audit of Housing Associations in the United Kingdom for consultation. The revised Practice Note is a significant change from the previous version, with further information on the auditor’s interaction with the regulators in each of the four nations of the UK and increased emphasis on the sector’s risks.
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