The report said the council had been “slow” in efforts to find a permanent replacement for its former chief finance officer (CFO), who left in April.
It also said the council should have referred itself to the Regulator for Social Housing sooner, after taking its housing management service in-house in 2023.
However, the council’s corporate director for housing said he did not think the timeframe in which the council referred itself to the regulator was “unreasonable”.
Meanwhile, Mr Halsey said the council’s efforts to recruit a new CFO were hampered by a “competitive” employment market.
Other weaknesses identified in the report included procurement and management of contracts, and how the council conducts internal investigations.