We are delighted to be working with the Single Financial Guidance Body (SFGB), to conduct an independent evaluation of the implementation process and effectiveness of the Standard Financial Statement (SFS) as it approaches its second year of operation.
The SFS is a tool used by debt advice providers and other organisations to record a summary of a person’s income and outgoings, along with any debts they owe. The single format for assessing affordability aims to support the consistent treatment and sustainable outcomes for over-indebted people across the sector.
The SFS Governance Group is responsible for the ongoing monitoring and evolution of the SFS. The review aims to highlight where action may be required to better support the proper usage of the SFS and provide assurance to the Governance Group.