RD 01/08: Reporters' and auditors' joint workshop 28

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Ofwat home > Publications > Letters to Regulatory Directors

RD 01/08

To Regulatory Directors of all
water and sewerage companies
and water only companies

8 January 2008

Dear Regulatory Director

REPORTERS' AND AUDITORS' JOINT WORKSHOP 28

We held our 28th joint workshop with reporters and auditors on 6 December 2007.

Keith Mason welcomed the reporters and auditors to the workshop. He discussed the background to Ofwat's proposals to impose fines on Thames Water and Southern Water; the outcome of the MD220 review of companies' systems, procedures and controls for compliance with GSS regulations; and the current review of competition.

Our Joint Workshop agenda covered the following items:

revisions to the June return table 6 – GSS compliance;
the programme for PR09; and
requirements for the asset revaluation and the asset inventory in the Draft Business Plan;

We then discussed separately with the reporters:

their work on the water resource management plans and the scope for liaison with the Environment Agency planners;
the background to menu based regulation;
carbon accounting;
asset strategy and cost forecasting issues, and the focus of their work in these areas;
cost benefit analysis;
overlap programme for AMP5 work continuing into AMP6;
sewerage supply and demand; and
the revenue correction mechanism.

We discussed separately with the auditors:

The timetable for PR09 and June return 2008;
An overview of PR09;
Transfer pricing; and
Principal statements.

We also gave feedback on their work on bad debt and accounting charges for the 2007 June return.

Reporter awards

We made presentations to the best reporters for June return 2007 as follows:

Water and sewerage company
Nick Curtis and his team from Strategic Management Consultants (SMC) for their work on Yorkshire Water's June return 2007.

Water only company
Wendy Staden and her team from Atkins for their work on Bristol Water's June return 2007.

Yours sincerely

Irene Millward
Reporters' Coordinator
Tel: 0121-625 1487

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