FAQs on the Standards of GRAP

The FAQs on the Standards were updated in March 2023. The changes to the FAQs include:

• FAQ 3.3 on How does a municipality account for rainwater? has been amended to How does an entity account for naturally occurring non-purchased water?. The FAQ provides clarity on the initial measurement of naturally occurring non-purchased water; and
• A new frequently asked question, FAQ 3.18 was added on How to account for “software as a service” in a cloud computing arrangement?

To access the FAQs, click here.