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IASC and SEC Environmental Accounting
February 18, 2000
I am researching US publicly traded corporate filing of significant
environmental material expenses on SEC 10-Q and 10-K forms to shareholders
using US generally accepted accounting principles (GAAP) under SEC
Regulation S-K (ie.item 5).
Does it make a difference whether or not a publicly traded company files its
significant environmental material expenses to shareholders including cost
savings from pollution prevention programs?
The International Accounting Standards Committee (IASC) informs me they have
no rules similiar to SEC Reg S-K and US GAAP (ie.SOP96-1 environmental
remediation liabilities) mandated for US publicly traded corporate filing of
significant environmental material expenses (ie.Superfund transaction and
I understand the SEC has recently asked U.S. companies to comment (under a
90-day period) on whether it should let foreign companies list on U.S. stock
markets under international accounting rules which don't have environmental
(SEC phone:202-942-0800 & 202-942-2800, email@example.com )
Can anyone tell me the financial importance of (quarterly)SEC 10-Q and
under SEC Reg S-K using US GAAP to shareholders and what are the financial
inferiorities of IASC rules which don't incorporate those US mandates for
filing of significant environmental material expenses?
Does US SEC environmental accounting mandates that provides transparency of
corporate due dilligence to reglulations and operation cost savings mattter
to your profession and programs?
Should the US allow all publicly traded companies to follow the IASC lead
and operate without environmental accounting mandates?
Thank you for your prompt response to my inquiries.
Member of the Society of Environmental Journalists