Accounting and financial reporting of environmental costs and liabilities

Author: Liu Gang, United Nations Conference on Trade and Development
Publisher:
Publication Date: 2003-05-01
Features: In 1991, the Expert Working Group developed detailed guidelines for items that it believed corporate boards could consider disclosing in their financial reports or for discussion by management. With the support of the World Bank and technical assistance provided by experts from the Institute of Chartered Accountants and the Canadian Institute of Chartered Accountants on a personal basis, the Expert Working Group supplemented its original guidelines to make them clearer while taking into account the best practices in various countries. The revised guidelines are included in this volume, with the aim of assisting enterprises, legislators, and accounting standard-setting bodies concerned with the best accounting treatment for environmental transactions and matters. It includes summaries of relevant literature. Regarding disclosure, the content is more comprehensive than the literature mentioned, including some disclosure items previously recommended by the Expert Working Group.