WICS report and accounts 2002/2003 and 2003/2004

Annual accounts (23 pages, PDF) of the Water Industry Commissioner for Scotland for 2003/2004. This reports an overspend against budget under a number of heads, including "costs incurred in limiting potential damage to the reputation of the Office". It states that: "In addition to this on a number of occasions financial procedures were not followed and expenditure was not properly recorded within the accounting records. As a result budgetary overspends in professional fees, media and publications costs, staff travel and subsistence and fixed asset purchases were not identified at an early enough stage."

These issues were identified in the course of the financial audit by the Auditor General, whose criticisms are reported in a Section 22 report (1 page, PDF) which was debated in a committee of the Scottish Parliament.

WICS also released in December 2004 its annual report for 2003/2004 (38 pages, PDF), accounts for 2002/2003 (25 pages, PDF), and report for 2002/2003 (24 pages, PDF). The accounts for 2002/2003 also attracted a critical Section 22 report (1 pages, PDF) from the Auditor General.

For further information or advice please contact Franck Latrémolière.

Filed under Regulators, Water, WICS.

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