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Parliamentary Briefing (UK): Making Internal Audit Mandatory for Water Suppliers – A Regulatory Imperative

This briefing aims to bring to the attention of parliamentarians the pressing need for Ofwat (The Water Services Regulation Authority, UK) to introduce a regulatory requirement to make it mandatory for all water suppliers to establish and maintain an independent internal audit function. As reported by the Financial Times, the Chartered Institute of Internal Auditors (Chartered IIA) has identified that several water-only suppliers facing significant financial and operational challenges do not have an internal audit function. This includes Portsmouth Water, South East Water, and Sutton and East Surrey Water (SES Water).

Read the briefing here.