Those charged with governance – the person(s) or organisation(s) (for example, a corporate trustee) with responsibility for overseeing the strategic direction of an entity and obligations related to the accountability of the entity. For the purposes of …

Underlying subject matter – the subject matter that is measured or evaluated by applying criteria. In an engagement conducted under this Standard the underlying subject matter is the water assets, water liabilities, changes in water assets and water …

Water – the liquid that descends from clouds as rain and forms streams, lakes, groundwater aquifers and seas. Water is a chemical compound comprising two atoms of hydrogen and one atom of oxygen. Water may exist in solid, liquid or gaseous …

Water accounting report – may be either a general purpose water accounting report or a special purpose water accounting report. …

Water accounting statements – comprise the statement of water assets and water liabilities, the statement of changes in water assets and water liabilities, and the statement of water …

Water asset – water, or the rights or other claims to water, which the water report entity holds or transfers, and from which the water report entity, or stakeholders of the water report entity, derive future …

Water entity – an entity that: Holds or transfers water, or Holds or transfers rights or other direct or indirect claims to water, or Has inflows and/or outflows of …

Water liability – a present obligation of the water report entity, the discharge of which is expected to result in a decrease in the water report entity’s water assets or an increase in another water …

Water report entity – a water entity in respect of which it is reasonable to expect the existence of users who depend on general purpose water accounting reports for information about water, or rights or other claims to water, which will be useful to them …

For the purposes of this Guidance Statement, the following items have the meanings attributed below: …