New water accounting standard to measure quantity, rights and obligations

The Water Accounting Standards Board (WASB) is in the process of developing the Australian Water Accounting Standard (AWAS), which will quantify information about water, rights and other claims to water, and obligations against water. The preliminary water accounting standard is out for comment until the end of June and is foreseen to take effect from 2012.

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Read more: waterAWASWASBAustralian Water Accounting StandardCPA AustraliaWater Accounting Standards BoardThe Institute of Chartered Accountants in Australia