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THE: CANADIAN INSTITUTE OF CHARTERED ACCOUNTANTS, Environmental Costs and Liabilities: Accounting and Reporting Issues, Research Report (Toronto: CICA, 1993, pp. xii, 129).
This Research Report was prepared by a Study Group commissioned by the Studies and Standards Department of the Canadian Institute of Chartered Accountants. The mission of the Study Group was to identify accounting and reporting issues relating to environmental costs and liabilities and to develop proposals on these issues for further consideration and action by the Canadian Accounting Standards Board. The Report was commissioned in response to the increasing interest for more environmental information by financial statement users and in recognition of the paucity of guidance in the current authoritative accounting literature.
This ambitious and timely Report covers 80 aspects of accounting and reporting issues on environmental costs and liabilities. However, the Report cites two limitations to its approach: first, the Report does not deal with...