Water Accounting Standards Board
In 2007-08, almost 1 million ML of water entitlements and 1.5 million ML of water allocations were traded throughout Australia for a gross value of around $1.7 billion. As water scarcity grows and its economic and environmental value increases, it is more important than ever to fully account for the volumes of water stored, traded and consumed.
(Australian Water Markets Report 2007-2008, National Water Commission, tables: 3.1, 3.2, 3.5)
The Water Accounting Standards Board (WASB) is currently developing water accounting standards for identifying, recognising, quantifying, reporting, and assuring information about water, the rights or other claims to that water, and the obligations against that water.
The Australian Water Accounting Standards (AWAS) will be used in the preparation of the National Water Account. The water industry is encouraged to assist in development of the Standards and to adopt them for reporting water information.
WASB believes use of these Standards will enhance the economic, social and environmental outcomes of water management.
On this website
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The Water Accounting Story
Defines Water Accounting and outlines its importance, the policy driver, the timeline, and next steps. -
Australian Water Accounting Standards Development
Outlines the Standard Development Process and includes Preliminary Water Accounting Standards, Water Accounting Conceptual Framework, Model Reports, Pilot Projects and FAQ's. -
About the Water Accounting Standards Board
Includes Terms of Reference, Board Members and Summary of Progress. -
Resources
Download foundation documents, water accounting documents and useful links.
Please note that this website contains some discussion and draft content that represents the independent views of the Water Accounting Standards Board and may not have been endorsed by the parties to the NWI.