Australian water accounting standards

The intergovernmental agreement on the National Water Initiative recognised the need for a consistent standardised approach to water resource accounting as current water account reporting was being undertaken in an ad-hoc fashion. The resultant reforms adopted an approach whereby water accounting would be developed as a discipline comparable to that of financial accounting. One outcome of this was the development of the Exposure Draft of the Australian Water Accounting Standards (ED AWAS1) which defines the structure for preparing a General Purpose Water Accounting Report.

Exposure Draft Australian water accounting standards

The Exposure Draft of the Australian Water Accounting Standards was developed by the Australian Bureau of Meteorology (BoM) to define the structure for a General Purpose Water Accounting Report. Download the exposure draft standards from the BoM website where feedback is being sought until 30 June 2011.