Joint voluntary code for Housing Revenue Accounting in LAs

The Chartered Institute of Public Finance and Accountancy (CIPFA) and the Chartered Institute of Housing (CIH) have launched a new joint voluntary code of practice for local authorities to use with their Housing Revenue Accounts (HRA).

The voluntary code, co-produced by CIPFA and CIH, aims to give local authorities the tools necessary to control and evaluate the performance of their HRA and increase the value it returns to both councils and rate payers.

It expands upon areas not previously covered by legislation or guidance and will help authorities assess and develop effective governance and financial management frameworks for their HRA so that local authorities that abide by the code can be assured that their HRA is being managed appropriately.