PRESS RELEASE : RSH publishes regulatory judgement for Christian Action (Enfield) Housing Association [December 2022]
The press release issued by the Regulator of Social Housing on 14 December 2022.
In a regulatory judgement published today (14 December 2022), the Regulator of Social Housing has concluded that Christian Action (Enfield) Housing Association Limited is non-compliant with the governance element of the economic standards, and has downgraded it to G3 status.
CAHA has been unable to provide assurance to the regulator that it is managing its risks and business planning in an effective way. Weaknesses in its financial governance, as well as a lack of effective board oversight and scrutiny, meant that CAHA failed to identify the potential crystallisation of a serious risk in sufficient time. CAHA also failed to inform the regulator of these risks in a timely way, and its communication has fallen below the standard expected by RSH.
In response to the regulator’s reactive investigation, CAHA has started to review its approach to governance and risk management. It is also implementing controls to improve the management of its repairs and maintenance service.
Harold Brown, RSH’s Senior Assistant Director for Investigations and Enforcement, said:
We have found significant weaknesses in Christian Action Housing Association’s governance, which has exposed it to financial risks. We will monitor the provider closely as it works to resolve these failings and return to compliance with our standards.
