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provides additional guidance for applicants and registered Community Housing Providers (CHPs) on meeting the financial viability performance standard under the Public and Community Housing Management (Community Housing Provider) Regulations 2014.  \nOur assessment process  \nOur assessment process looks at whether your organisation can demonstrate financial viability and solvency. This means assessing whether your organisation has a viable capital structure, maintains an appropriate level of financial performance, and manages exposure to financial risk.  \nWe also look at whether your organisation is able to generate sufficient income to meet your operating expenses and service any debt commitments. This includes looking at your business or strategic plan and assessing whether it is financially viable for your organisation to fulfil any expansion plans without compromising your existing services.  \nWhat you need to provide  \nWe assess your organisation’s financial viability when you apply for registration and during annual monitoring if you are registered. In both instances, you will need to provide us with audited financial statements, budget documents, your financial policies and procedures, and your business or strategic plan.  \nYou will need to engage the services of an accountant to prepare your financial statements as well as an independent auditor. Some applicants and providers also find it helpful to engage an accountant to prepare their budget documents, thoughthis is not a requirement.  \nYou can find more information on the content of these documents on page two of this guidance note.  \nWhat this document covers  \nThis document provides guidance on how to prepare your financial statements, as well as some information on the key factors we look for when determining whether your organisation meets the financial viability performance standard.  \nPreparing your financial statements  \nFinancial statements are the primary evidence we use to assess whether your organisation meets the financial viability performance standard. Making sure they are prepared correctly helps ensure that your organisation’s financial position is reflected fairly and that your application or annual monitoring can be processed as quickly as possible.  \n➢ Organisations operating for more than 12 months  \nYour financial statements must be prepared in accordance with the relevant standards published by the External Reporting Board. These standards set different reporting requirements depending on the size and type of your organisation. Your accountant will be able to advise you about which format is right for your organisation.  \nYour financial statements must be audited by an independent auditor before we can accept them. An independent auditor will express an opinion on whether your financial statements fairly present your organisation’s financial position, performance, and cash flow. They will also verify that your financial statements have been prepared in accordance with the relevant External Reporting Board standards.  \nYou must also provide us with a budget forecast for your organisation. For applicants, this forecast should cover the next three years; for registered CHPs, it only needs to cover the next financial year. Your budget forecast should include statements of revenue and expenditure, cash flows, financial position, notes and budget assumptions. Your budget documents must be capable of comparison with your audited financial statements.  \n➢ Organisations operating for less than 12 months  \nIf your organisation has been operating for less than 12 months, you may provide us with interim management accounts instead of audited financial statements. We would expect that these accounts are accompanied by an independent assurance practitioner’s review carried out by a qualified auditor. The auditor will need to obtain sufficient evidence to express confidence in the details of your acc","cbCaim2F193QpIE7","https://ap.wps.com/l/cbCaim2F193QpIE7","pdf",159842,"English","# Purpose\n# Our assessment process\n# What you need to provide\n# What this document covers\n# Preparing your financial statements\n## Organisations operating for more than 12 months\n## Organisations operating for less than 12 months\n# Demonstrating a viable capital structure","[{\"question\":\"What does the assessment consider to determine financial viability and solvency?\",\"answer\":\"It assesses whether the organisation can demonstrate financial viability and solvency by checking its capital structure, financial performance, management of financial risk, sufficient income to cover operating expenses, and ability to service debt commitments.\"},{\"question\":\"What documents are required when applying for registration or during annual monitoring?\",\"answer\":\"Applicants and registered CHPs must provide audited financial statements, budget documents, financial policies and procedures, and a business or strategic plan.\"},{\"question\":\"What should an organisation provide if it has been operating for less than 12 months?\",\"answer\":\"It may provide interim management accounts instead of audited financial statements, expected to be accompanied by an independent assurance practitioner’s review, and it must also provide prospective financial statements prepared to the relevant standards, including at least a three-year budget forecast.\"}]","Financial Viability - Guidance Note | PDF",23]