Governance can be defined as “the systems and processes concerned with ensuring the overall direction, effectiveness, supervision and accountability of an Association”.
Whilst this ultimate responsibility is owned by, and rests with each Board, the importance of the relationship between the Board and the management cannot be ignored. Governance does not merely focus on the operation and outputs of the Board - where ultimate responsibility lies - but also on the role of management in the running of the Association and its relationship with the Board.
A high standard of Corporate Governance is expected from the Association in all of its activities including the control of Housing Association Grant and other finances.
This guidance has been adapted from the National Housing Federation - Excellence in Governance; the Department’s - Code of Good Governance and the National Council for Voluntary Organisation’s - Good Governance.
All Registered Housing Associations (hereafter referred to as ‘Associations’) must, therefore, adhere to the guidance contained within this section. It is intended to help Board and sub-committees by setting out key principles, which form the basis of this guidance, together with the most important supporting principles