CPA pollution draft offers relief on liability accounting. (American Institute of Certified Public Accountants manual for environmental liability accounting)

National Underwriter Property & Casualty-Risk & Benefits Management, January, 1995 by Mulcahy, Colleen

A draft of a new CPA manual detailing ways to account for corporate environmental liabilities should offer relief to firms trying to estimate nebulous exposures and ultimately boost lagging compaliance with existing reporting requirements, according to accounting experts. The American Institute of Certified Public Accountants, the umbrella organization for CPAs, is developing a specific manual for environmental accounting--an area which today represents a substantial void of information--and hopes to issue it for public comment in the coming weeks, said Fred Gill, senior technical manager for accounting standards with AICPA in New York.

The guide will "put a lot more meat on" current requirements issued by the Securities and Exchange Commission and the Financial...

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