In a regulatory judgement published today (3 January 2024), the Regulator of Social Housing concluded that A2Dominion Housing Group Limited (A2Dominion) has not met the required governance outcomes of the Governance and Financial Viability Standard and, as a result, it has been downgraded to G3 status. Its current viability grade (V2) is unchanged.
RSH lacks assurance that A2Dominion has a robust risk management, internal control and assurance framework that enables it to manage and mitigate risks. The provider has failed to manage key risks effectively which has led to some poor outcomes for tenants.
RSH also lacks assurance that A2Dominion's data and systems are adequate. These issues have led to the provider producing poor-quality data and hindering the board's oversight of the organisation.
A2Dominion's CEO and Chair have been positively engaging with RSH. The provider is working to address the governance issues identified by RSH's investigation and return to a position of meeting the required governance outcomes.
Harold Brown, Senior Assistant Director for Investigations and Enforcement at RSH, said:
We found significant issues with A2Dominion's data and its business planning, risk and control framework, leading to a failure by the provider to manage key risks effectively. A2Dominion are working with us to address these issues and we will continue to monitor the provider as it works to return to compliance.
Notes
- Registered providers of social housing with more than 1,000 units are awarded both governance (G) and financial viability (V) grades for their compliance with the Governance and Financial Viability Standard. Grades of G1 and G2 indicate compliance with the governance element of the Governance and Financial Viability Standard, while grades of G3 and G4 indicate non-compliance. Similarly, V1 and V2 grades indicate compliance with the financial element and V3 and V4 grades indicate non-compliance.
- RSH placed A2Dominion on the gradings under review list on 8 September 2023 to indicate that it was investigating the provider's compliance with the Governance and Financial Viability Standard.
- A2Dominion's previous grades were G1/V2. They are now G3/V2.
