In October 2013 the Chartered Institute of Public Finance & Accountancy (CIPFA) published its ‘Voluntary Code for a Self-Financed Housing Revenue Account in conjunction with the Chartered Institute of Housing (CIH). The purpose of this briefing paper is to summarise and comment on the voluntary code. It contains sections on:
The code of practice is a voluntary code and there are therefore no sanctions for not following it. However, it appears to contain nothing controversial and represents a useful check list based on common sense. It should therefore be welcomed by local authorities and their tenants.
However, its silence on the future treatment of depreciation, impairment and major repairs is a disappointment.
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