UK Financial Reporting Council (FRC) Investigates UK Homeless Accommodation Home REIT Audit by BDO for FY2021, Home REIT with £130 Million Debt & Sold 15% of Properties in 2024 to Prepare for Wind Down, Share Trading Suspended Since 2023 January
12th April 2025 | Hong Kong
THE UK Financial Reporting Council (FRC) is investigating UK homeless accommodation Home REIT audit by BDO for FY2021. Home REIT has around £130 million debt, and sold 15% of properties in 2024 to prepare for wind down. Home REIT share trading has been suspended since 2023 January. UK FRC (8/4/25): “This Press Notice concerns the opening of an investigation into one or more Statutory Auditor(s) and/or Statutory Audit Firm(s)*. The investigation does not relate to any persons or entities other than the relevant Statutory Auditor(s) and/or Statutory Audit Firm(s) and it would not be fair to treat any part of this announcement as constituting or evidencing an investigation into any other persons or entities. The Financial Reporting Council (“FRC”) has commenced an investigation in relation to the audit conducted by BDO LLP of the consolidated financial statements of Home REIT plc for the year ended 31 August 2021. The decision was made at a meeting of the FRC’s Conduct Committee on 17 December 2024. The investigation will be conducted by the FRC’s Enforcement Division under the Audit Enforcement Procedure.” Home REIT – Home REIT is the UK’s first Real Estate Investment Trust (REIT) dedicated exclusively to funding the acquisition and creation of high-quality, tailored accommodation for homeless people across the UK, including prison leavers and victims of domestic abuse. By leasing houses and small apartment buildings to specialist registered charities, community interest companies and other regulated organisations, we seek to address the critical need for affordable, high-quality housing for the UK’s most vulnerable people, delivering a material, meaningful social impact. We also collaborate with our local charity partners to ensure that residents are fully supported in gaining the skills and confidence to find long-term, secure accommodation and reintegrate into society. We work with our specialist housing provider tenants and developers to ensure our homes meet high ESG standards. Additionally, we generate savings for local authorities and the taxpayer by offering affordable rents compared to alternative accommodation, which is often expensive and unsuitable for vulnerable residents. Home REIT is listed on the premium segment of the Official List of the UK Financial Conduct Authority having listed on the main market of the London Stock Exchange on 12 October 2020.”
“ UK Financial Reporting Council (FRC) Investigates UK Homeless Accommodation Home REIT Audit by BDO for FY2021, Home REIT with £130 Million Debt & Sold 15% of Properties in 2024 to Prepare for Wind Down, Share Trading Suspended Since 2023 January “
UK Financial Reporting Council (FRC) Investigates UK Homeless Accommodation Home REIT Audit by BDO for FY2021, Home REIT with £130 Million Debt & Sold 15% of Properties in 2024 to Prepare for Wind Down, Share Trading Suspended Since 2023 January
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