Annual report 2021-22

WICS annual report on performance, accountability and financial statements 2021-22


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Introduction to our annual report

As the economic regulator of publicly owned Scottish Water, the Water Industry Commission for Scotland (WICS) works to ensure that the industry is internationally admired for excellence and is sustainable both for today’s customers and for future generations. 

This report outlines our work in 2021-22, the first year of a new six-year regulatory control period. It is presented in three parts:

  1. The performance report consisting of:
    • The overview section, which explains our purpose, the outcomes WICS aims to achieve and our objectives. It also provides a summary of our performance against delivering those outcomes and objectives and both the impact of and management of key risks.
    • A performance analysis, providing a detailed review of our performance in the period.
  2. The accountability report consisting of:
    • The corporate governance report
    • A remuneration and staff report
    • A Parliamentary accountability report
    • The independent auditor’s report
  3. The financial statements consisting of:
    • Statement of comprehensive net expenditure for the year to 31 March 2022
    • Statement of financial position at 31 March 2022
    • Statement of cashflows for the year to 31 March 2022
    • Statement of changes in equity for the year ended 31 March 2022
    • Notes to the financial statements.

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