The water is not the biggest culprit in the damage to electronics.  The humidity in an environment coupled with the dust that has collected in any electronic piece is what will cause more damage than a direct hit of water.

After a disaster such as fire or flood, water and moisture may come into direct contact with electronics.  Additionally, the relative humidity may be high due to water from fighting the fire, burst pipes or weather elements from an open roof.  The dust absorbs this moisture even if the equipment is not directly impacted by the water. Without this dust the moisture would not readily adhere to circuit boards.  This dust will become conductive as it hardens and cause electrical currents to travel erratically.   The electronic piece needs to be removed from this environment and dried: not left to dry as the structure is drying.  After the piece has been properly dried; in a heat chamber designed to dry in as little as 12 hours, the piece should be thoroughly cleaned from dust and any other contaminants.