Annual Report 2023-24

WICS annual report on performance, accountability and financial statements 2023-24.

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Annual Report and Accounts 2023-24.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 sustainable for today’s customers and future generations.

This report outlines our work in 2023-24, the third year of a six-year regulatory control period. It is presented in three parts:

  1. The performance report consisting of:
  • The overview section explains our purpose, the outcomes we aim to achieve, and our objectives. It provides a summary of our performance in delivering those outcomes and objectives and the impact of and management of key risks.
  • A performance analysis, providing a detailed performance review of 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 2024
  • Statement of financial position at 31 March 2024
  • Statement of cashflows for the year to 31 March 2024
  • Statement of changes in equity for the year ended 31 March 2024
  • Notes to the financial statements.
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