Is there an international standard setting regime for water accounting along the lines of international accounting standards?
No. While there has been international development in standards for water statistics (see “How does this work compare to that being produced by the ABS”), Australia is the only country developing standardised water accounting on this basis. That is, it is the only country at the moment planning to produce General Purpose Water Accounting Reports in accordance with Water Accounting Standards, underpinned by a Water Accounting Conceptual Framework, and prepared on an accrual basis using double entry accounting. WASB has been in touch with representatives of the International Accounting Standards Board during the development of the WACF and the PAWAS. Furthermore, we are aware that independent of WASB activities, discussions are occurring internationally regarding potential adoption of the standardised water accounting being produced by WASB.
, there has been considerable international development in water statistics. The United Nations Statistical Division has produced International Recommendations for Water Statistics (IRWS) and an international statistical standard the System Integrated Environmental-Economic Accounting (SEEA), including a specific standard for Water (SEEA-W). The SEEA is consistent with the international economic accounting framework, the System of National Accounts. International statistical standards have the endorsement of the international statistical community, are widely used and allow for international comparisons.
Related Questions
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