The regulatory accounting code specifies the information that water businesses must prepare and submit to the Commission on their actual financial performance. The information collected under the code will allow the Commission to monitor the businesses’ financial performance during the regulatory period and provide the basis for assessing expenditure and revenue forecasts used to approve water, sewerage and related services in future price reviews.
The code sets out obligations on water businesses regarding:
- the submission of certain financial information to the Commission
- the preparation of regulatory accounting statements in the regulatory accounting templates
- specified principles for the preparation of regulatory accounts
- review and adjustment of regulatory accounts.
Following the review of 2006-07 regulatory accounts, the Commission extensively reviewed the code and the regulatory accounting statements. This has been prompted by a number of issues that were identified during the review process and scope for improving the timeliness of the review process itself.
- Final Code (3)
- Draft Code (3)