Annual Report 2022-23

WICS annual report on performance, accountability and financial statements 2022-23

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Annual Report and Accounts 2022-23.pdf

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Introduction

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 2022-23, the second year of a 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 we to achieve and our objectives. It 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.
  1. The accountability report consisting of:
  • The corporate governance report
  • A remuneration and staff report
  • A Parliamentary accountability report
  • The independent auditor’s report
  1. The financial statements consisting of:
  • Statement of comprehensive net expenditure for the year to 31 March 2023
  • Statement of financial position at 31 March 2023
  • Statement of cashflows for the year to 31 March 2023
  • Statement of changes in equity for the year ended 31 March 2023
  • Notes to the financial statements.
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