The essential functions of the Board of Management are formally recorded. They include the setting of strategy and monitoring of progress
in achieving that strategy, the definition of values and objectives, approving policies, plans and budgets and monitoring performance of
the business. By doing this the Board seeks to ensure that the Group does not take any undue risks and that affairs are conducted to
the highest level of performance and propriety. The Board is also responsible for understanding risks are understood, recorded, reported,
managed and mitigated against.
Every Board and Committee across the Group has responsibility for the implementation, monitoring and review of key policies and
strategies that are relevant to their area of operation. The respective responsibilities of the Boards and Committees are set out in the
Group’s Standing Orders and Financial Regulations. The Group Board delegates day to day management of the activities to the Group
Chief Executive and his Executive team who in turn are responsible for ensuring that the organisations have appropriate arrangements
in place to meet their objectives and targets. The Group’s review against the NHF Code of Governance demonstrated high levels of
continuing compliance. The Group Board is formed of members with wide-ranging, relevant and necessary skills and knowledge to
effectively manage the business and understand and manage the Group’s key risks. The Group annually reviews its operations against the
Homes and Communities Agency’s Governance and Financial Viability Standard and continues to demonstrate compliance. In January
2016, the Group received confirmation that the highest poss ible ratings for Governance and Viability (G1 & V1) had been retained following
the HCA’s annual stability check. Details of the remuneration drawn by members of the Board during the year are set out in Note 6 of the
Financial Statements. The total remuneration of non-executive members represents 0.1% of turnover.
Our marketplace
The Accord Group recognises that the operating environment continues to change. The Group’s ability to plan successfully is based on a
foundation of understanding of the current and future political, statutory and economic environment and the ability to shape and influence
local, regional and national policy. Our understanding is based upon work including:
n Analysis of the housing and social care markets including regular sector/peer benchmarking.
n Developing and maintaining relationships with key partners through regular and ongoing dialogue.
n Research into the local demographics and how demand for our services might change in the future.
n Consultation and dialogue with staff, Board and Committee members and external stakeholders
n Understanding of the political, economic, social, legislative, environmental and technological drivers for change in our sector.
n Robust risk analysis of the activities we are engaged in.
n Consultation with our customers to maintain and develop excellent services
Our analysis of the operating environment suggests that the key factors and drivers are:
n Ensuring value for money is achieved and demonstrated but is built on a foundation of quality service provision.
n The increasing necessity for greater integration between housing, health and social care.
n Modern, agile services which continue to respond to the ongoing retraction of the public sector, notably Local Authority
commissioning.
n Working with customers to help them understand and manage increasing financial pressures.
n More empowerment of local communities and supporting the sustainability of local economies.
n Increased transparency and accountability to customers, service users and communities.
n The need to work collaboratively with commissioners to solution-led services focussing on the needs of the commissioner, the
community and service users.
The summer 2015 budget announcements highlighted the government’s expectations of the social housing sector to provide increased
value for money by delivering more for less, as evidenced by a 1% year on year rent cut for 4 consecutive years. This has impacted all
Providers, including Accord. Following the announcement business plans were revised and updated to reflect new and more efficient
operating models, structures and new ways of working being implemented. Accord’s response to governmental announcements and
policy ensures the Group is well placed to manage the associated financial pressures.
Financial Statements 2016
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