How does ED AWAS 1 differ from the PAWAS?
Feedback and practical observations from the PAWAS Pilot Program has resulted in the following changes in ED AWAS 1: • Significantly more implementation guidance, especially in water assets and water liabilities. This responds to uncertainty by preparers about recognition of those elements. • Adjustment to the line items required on the face of GPWAR statements. • Changing the term ‘water reporting entity’ to ‘water report entity’ to better describe its nature. • Inclusion of principles for segment reporting. • Inclusion of principles for reporting events occurring after the reporting period and prior to report preparation. • Replacement of term ‘water use’, with ‘water for environmental, social and cultural, and economic benefits’. • Inclusion of principles for reporting prior period errors. • Changes to the Accountability Statement to separate the requirements of the preparer and those charged with management responsibility for the water resources. • Inclusion of a principle for repo
