This review provides an analysis of the Annual Efficiency Statements (AES) submitted to the Corporation in 2006. The AES reporting process provides the means by which associations self-assess their performance on improving efficiency.

The process was developed in response to the publication in March 2005 of the requirements for both local authorities and housing associations to deliver and report on efficiency gains set out in Sir Peter Gershon's report and the Government’s Spending Review 2004 (SR2004) the previous year.