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Appendix C1 Tier 2 Information Requirements / continuedInformation RequirementDetails/Comments5 Annual Financial Return Each Tier 2 AHB must submit an Annual Financial Return with just 1 yearsdata based on the latest audited Financial Statements.This information will be required in the format set out in Appendix C3.6 Tax Clearance Certificate Each AHB must submit a Tax Clearance Certificate with their AnnualReturn Form.7 Notification ofIssues ArisingAll AHBs should notify the Regulator immediately of issues arising whichin its opinion give ‘cause for concern’ and represents ‘a potential impacton viability’. Notifiable events are listed within Chapter 8. This list isnot exhaustive.The Boards of Tier 2 AHBs who have development loan finance overa threshold level 6 are required to monitor key liquidity ratios (as perAppendix C4) and notify the Regulation Office of breaches over a period.Other RequirementsPerformanceManagement IndicatorsA sinking fundStock Condition SurveysExternal Validation ofStock Condition SurveyAudit and Risk CommitteeMeeting withRegulation OfficeDetails/CommentsAll AHBs should be able to provide basic data each year on its performancemanagement under a number of headings such as rent payment/ arrears,voids, repairs and management and maintenance costs per unit.All AHBs are required to have a sinking fund for the longer term systematicrepair and refurbishment of housing stock. The level of provision must relateto the condition of the stock.All AHBs are required to perform stock condition surveys to ensureappropriate level of provision is being made to a sinking fund.All AHBs are required to have external validation by an appropriatelyqualified and independent third-party of the stock condition survey bothin terms of the sample size used and in the quality and accuracy of itsassessment of its stock. The User Guide to the Financial Standard willcontain more detail.In recognition of the critically important issue of risk assessment and riskawareness Tier 2 bodies are required to have an Audit and Risk Committee.Not required every year for Tier 2 AHBs.However, some Tier 2 AHBs may be required to engage with theRegulation Office in relation to issues arising from either theassessment process or notifiable events.Additionally, others may be invited to meet with the Regulation Officeto facilitate enhanced cooperation and mutual understanding withinthe sector.6. Guideline threshold; If Borrowings exceed €1.5M or loan financed stock exceeds ¼ of total stock, a full business plan and accompanying30 Year Financial Projections will be required.xxiiHousing Agency Regulation Office