Value For Money Statement 2016 VFM Statement 2017 | Page 12

Theme Objective: What has
Accord committed to? Implementation:
What has been delivered?
Increase
transparency
in reporting
VFM Prepare an annual fully
compliant VFM Self-Assessment
Statement in accordance with
regulatory requirements. n Accord continues to prepare an annual VFM self-
assessment statement which meets the requirements of
the regulator’s standards.
n The VFM self-assessment statement has been externally
validated and is made available on the Accord website.
n The Board receives assurance based VFM reports.
n There is a clear line of sight with the objectives of the
Business Plan and the VFM strategy.
n Each of the Accord’s departments, teams and major
functions have prepared a VFM action plan. These have
been peer reviewed by senior management to ensure the
actions and deliverables are sufficiently challenging.
n The Board approved VFM strategy is supported by a
detailed action plan.
n Those efforts of colleagues that go the extra mile in
identifying achieving and securing VFM have been
recognised formally at Accord’s Great People Awards.
n The performance objectives of management and senior
management include clear requirements to ensure VFM is
delivered throughout all of Accord’s operations.
Demonstrate to stakeholders
how we are delivering against
Business Plan objectives
Incorporate VFM in all PDR
performance appraisal
documentation – VFM objectives
relevant to each role are set.
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Accord Housing Association