This second biennial assessment of progress in implementation of the National Water Initiative records "significant achievements in water reform across Australia". It covers all states and territories, groundwater and surface water systems, and urban and rural areas.

Because the Commonwealth now has a much greater role in water management, the assessment also considers how much the actions of the Australian government have helped to achieve the objectives of the National Water Initiative.

In many areas, progress in the past two years has been good, but the Commission has identified some areas where reform has been slow or inadequate. Based on its findings, the Commission has made 68 recommendations for further action to refocus national reform efforts over the next two years.