Environmental accounting regulation for protection and remediation - An UAE perspective
The purpose of any accounting system is to provide managers across the organization with information that facilitates not only Control of activities and refinement of operational plans but also the accountability. With changing accounting policies both the corporate and financial worlds’ effectiv...
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| Main Author: | |
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| Format: | Conference or Workshop Item |
| Language: | English |
| Published: |
2007
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| Subjects: | |
| Online Access: | http://repo.uum.edu.my/2562/1/Srinivas_Inguva.pdf http://repo.uum.edu.my/2562/ |
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| Summary: | The purpose of any accounting system is to provide managers across the
organization with information that facilitates not only Control of activities and
refinement of operational plans but also the accountability. With changing
accounting policies both the corporate and financial worlds’ effective and
consistent deployment of accounting logic by keeping environmental
protection is highly essential for rapidly polluting current environment. In
years past, environmental issues were often ignored by both corporations and
individuals. Environmental accounting is used to determine measures to
promote sustainable environmental management. Implementing measures that
strike a balance between cost reduction and environmental impact reduction is
crucial to promoting sustainable environmental management. The release of
new International Accounting Standards (IAS), the World Bank, United
Nations, and International Federation of Accountants (IFAC) environmental
guidance documents has added pressure to the IASC to come out with an
environmental standard. UNCTAD has been at the forefront of work on
environmental accounting. The Group recommended that it concentrate its
future efforts on examining available guidance on the main issues in
environmental financial accounting and on identifying key environmental
performance indicators and their relation to financial performance. Ultimately,
this has given a focus to form a framework for environmental accounting
which may be used by national standard-setters. Such a framework will
comprise a set of recommended "best-practices" which will be drawn from the
work of national professional accounting bodies, industry groups and
accounting standard setters. The present study is aimed to focus the
environmental accounting issues and the legal frame work for environmental
protection and remediation in the UAE. The required information for the study
has been collected from secondary sources those include the official
publications of the government and non government agencies. The study is
limited to the law and regulation related to the environmental accounting
issues in the UAE and; the summary of the study would reveal the effective
environmental protection and remediation frame work for current environmental accounting practices in UAE. |
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