Review launched into Croydon Council’s housing company

Croydon Council has appointed auditors PwC to carry out an independent strategic review of its companies, including its housing firm Brick by Brick.

The review will look at any risks or any liabilities that the London borough may face with other council-owned companies and organisations like Croydon Affordable Homes, the Growth Zone and Revolving Investment Fund.

It will also examine the overall financial health and governance arrangements of Brick by Brick, as well as review the viability of projects within its development pipeline.

According to the London borough, this ‘will lead to the development of an action plan to address any issues of concern or risk to the governance, performance, and finances of Brick by Brick and how that might affect the council’.

The second part of the review will inform the council’s long-term strategy, again given the significant financial constraints facing the council and the need to maximise the supply of affordable housing.

The review of Croydon Affordable Homes, the Growth Zone and Revolving Investment Fund will focus on ensuring that the original business case remains valid and fit for purpose in recognition of the council’s changed circumstances and understanding any risks and liabilities the council might be facing.

The results of the review will go to cabinet in November.

The council has asked Chris Buss, former director of finance and deputy chief executive at Wandsworth Council, to act as the client lead in this project to manage the interaction with the council and ensure independent briefing of PwC and transparency in reporting. He will report directly to the chief executive.

Last month, Croydon appointed Katherine Kerswell as its interim chief executive following the departure of the previous top officer, Jo Negrini.

Photo Credit – Free-Photos (Pixabay)