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MD 209
TO THE MANAGING DIRECTORS
OF ALL WATER ONLY COMPANIES AND
WATER AND SEWERAGE COMPANIES
4 November 2005
RELIABILITY OF REGULATORY INFORMATION
I thought it would be helpful to issue a reminder of one aspect of companies' obligations as holders of statutory appointments.
We require you to provide a wide range of information to enable us to fulfil our duties and to protect consumers. We expect this information to be reliable, accurate and complete. Where it is not, criminal offences may be committed (see for example section 207 of the Water Industry Act 1991). We also expect high standards of corporate governance, including rigorous systems of internal control that apply throughout the organisation. These systems should be routinely audited.
We recognise that reporting on some issues may require an element of judgement. In such instances, we expect companies to draw uncertainties to our attention and to make appropriate use of confidence grades and supporting narratives when they provide information to us.
The roles of your reporter and your auditor are a vital part of the scrutiny we require to provide quality assurance for your data submissions. The Reporters Protocol sets out each reporter's duty of care to Ofwat and specifies criteria for the level of their audit and monitoring and the scope and content of their reports. The audit engagement arrangements also establish a duty of care between each auditor and Ofwat. You are responsible for communicating any concerns over data quality to both and providing full access to primary sources. The ultimate responsibility for the accuracy of the information rests with the company and its employees.
Philip Fletcher
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