PAC report to be commended for approach on tenant role in regulation
CIH Cymru comment on the release of the Welsh Assembly's Public Accounts Committee report into housing association regulation and governance.
The environment within which housing associations operate is fast-paced and the task of maintaining high quality governance arrangements must be a continuous and evolving process, and our members are committed to working in partnership with the regulator to achieve that goal.
The report rightly highlights the role tenants have in providing expertise and insight to inform the current and future direction of housing policy. There is already a large amount of good practice in engaging tenants in this way but CIH Cymru will continue to work in partnership with the regulator to ensure that the support given to tenants, in order to properly scrutinise landlords, continues to grow and remain robust.
We also welcome that the report recognises the central role that diversification will have to play in the sector to ensure that it is able to meet the challenges of welfare reform and economic uncertainty, and the need for the Welsh Government to provide reassurance by ensuring its regulation team have the capacity and skills to meet the challenge of regulation in this area.
The remuneration of board members is a recommendation that many of our members will welcome. The flexibility to set board member remuneration will provide an additional draw as members seek the best talent and expertise to enhance and strengthen their combined experience. Finally, our members are committed to working closely with the regulator to ensure that the process of senior management’s pay remains open and transparent.