The quantification process for water assets and water liabilities can rarely be 100% accurate due to: Scientific uncertainty: This arises because of incomplete scientific knowledge about the measurement of water volumes. For example, the quantification …

The fact that quantifying water assets, water liabilities and changes in water assets and water liabilities is subject to uncertainty does not mean that water assets and water liabilities are inappropriate as a subject matter. As long as the assumptions …

A discussion in the notes to the general purpose water accounting report of the nature, causes, and effects of the uncertainties that affect the general purpose water accounting report alerts intended users to the uncertainties associated with the …

Certain disclosures in a general purpose water accounting report may be subject to greater uncertainty, such as future prospects of the water report entity, contingent water assets, contingent water liabilities and unaccounted-for differences. …

Because uncertainty is a significant characteristic of all general purpose water accounting reports, paragraph 103(f) requires it to be mentioned in the assurance report regardless of  what, if any, disclosures are included in the explanatory notes to the …

             In some cases, however, the assurance practitioner may decide that it is inappropriate to undertake an assurance engagement if the impact of uncertainty on information in the general purpose water accounting report is very high. This may be …

Although the assurance practitioner is required to perform all the procedures in paragraph 29 in the course of obtaining the required understanding of the water report entity, the assurance practitioner is not required to perform all of them for each …

Analytical procedures performed to obtain an understanding of the water report entity and its circumstances and to identify and assess risks of material misstatement may identify aspects of the water report entity of which the assurance practitioner was …

Analytical procedures may help identify the existence of unusual events and amounts, ratios, and trends that might indicate matters that have implications for the engagement. Unusual or unexpected relationships that are identified may assist the assurance …

However, when such analytical procedures use data aggregated at a high level (which may be the situation with analytical procedures performed to obtain an understanding of the water report entity and its circumstances and to identify and assess risks of …