The significant changes within the Housing SORP 2026, which aligns with major amendments to FRS 102, are effective for periods commencing on or after 1 January 2026.
Changes to revenue recognition and lease accounting, and clarification on areas such as asset capitalisation, regeneration, impairment, and contingent liability disclosure of government grants need to be considered by Registered Providers with sufficient time to analyse the impact and implement change.
In this article, written for Social Housing, Julia Poulter, Head of Social Housing at Crowe UK, focuses on how providers should prepare. It sets out a detailed readiness checklist covering governance, training, revenue mapping, lease data collection, grant review, asset and impairment policy updates, system and control changes, audit engagement, and financial planning. The article stresses the need for early action, cross-functional coordination, and clear communication with boards, lenders, and regulators. It concludes by emphasising that proactive preparation will ensure a smooth transition and maintain confidence in reporting during this major accounting shift.
To read the full article, please see Social Housing: How to prepare for the new Housing SORP
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