Continuous Compliance Auditing Policy

1.Introduction

1.1 The purpose of this policy is to ensure that STAR Housing maintains continuous compliance with all relevant legal, regulatory, and internal standards. This policy outlines the procedures for regular audits, monitoring, and reporting to enhance transparency and accountability.

1.2 This policy applies to all departments and employees within STAR Housing, including external contractors and partners involved in compliance-related activities.

2.Key Points of the Policy

2.1 STAR Housing is committed to maintaining the highest standards of compliance through continuous auditing. This policy aims to identify, assess, and mitigate compliance risks, ensuring that all operations adhere to legal and regulatory requirements.

2.2 Procedures:

1. Audit Planning:

• The Governance and Risk Manager will develop an annual audit plan, outlining the scope, objectives and schedule for compliance audits.
• The audit plan will be reviewed and approved by the Senior Management Team (SMT) and the Board of Directors.
• The Board of Directors and SMT will actively shape the audit programme, ensuring it aligns with strategic objectives and addresses key compliance risks.

2. Audit Execution:

• Audits will be conducted by the internal audit team, with support from external auditors as needed.
• The audit process will include document reviews, interviews and site inspections to assess compliance with policies and procedures.
• Auditors will use standardised checklists and templates to ensure consistency and thoroughness.

3. Reporting:

• Audit findings will be documented in detailed reports, highlighting areas of non-compliance, risks and recommendations for improvement.
• Reports will be submitted to the SMT and the Board of Directors for review and action.
• A summary of audit findings will be shared with relevant departments and employees to ensure transparency and accountability.

4. Follow-Up:

• The Governance and Risk Manager will oversee the implementation of corrective actions based on audit recommendations.
• Follow-up audits will be conducted to verify that corrective actions have been implemented effectively.
• Progress on corrective actions will be reported to the SMT and the Board of Directors.

5. Continuous Monitoring:

• STAR Housing will implement continuous monitoring tools and systems to track compliance in real-time.
• STAR Housing will implement continuous monitoring tools and systems to track compliance in real-time.
• Regular training and awareness programs will be conducted to ensure employees understand compliance requirements and their roles in maintaining compliance.
• The Governance and Risk Manager will review monitoring data and address any emerging compliance issues promptly.

3.Responsibilities

• Governance and Risk Manager: Develops audit plans, oversees audit execution, and ensures corrective actions are implemented.
• Internal Audit Team: Conducts audits, prepares reports, and supports follow-up activities.
• SMT: Reviews and approves audit plans, monitors compliance, and ensures resources are allocated for corrective actions.
• Board of Directors: Provides oversight and ensures accountability for compliance activities

4.Monitor and Review

4.1 SMT will be responsible for the monitoring and review of this policy.

4.2 This policy will be formally reviewed at least every year.

5. Version Control

Resources