The National Housing Federation (NHF), together with its Scottish and Welsh counterparts, which collectively form the SORP-making body for RSLs, and the SORP Working Party, has reviewed the current SORP Update 2002, in accordance with the Accounting Standards Board's (ASB) SORPs: Policy and Code of Practice (July 2000).

The NHF is now consulting housing associations and other interested parties on proposed changes to the SORP. The consultation period closes on 26 January 2005, and it is anticipated that the results of the consultation will be presented to the ASB by the end of March 2005, with the completed SORP Update 2005 being printed in May 2005 subject to satisfactory agreement by the ASB. The consultation papers can be accessed at http://www.housing.org.uk/library/index.asp?Link=poldoc&Submit=1&Doc=91.