Environmental Valuation and Auditing. Auditors are interested in (1) asset values related to environmental activities and (2)
Question:
Environmental Valuation and Auditing.
Auditors are interested in (1) asset values related to environmental activities and (2) related liabilities: current, long term and contingent.
Required
A. What accounting procedures should the auditor recommend if long-term assets are environmentally impaired?
B. Define an ‘emission right’ under the US Clean Air Act of 1990. What is the accounting treatment for emission rights?
C. What factors would the auditor need to know to determine the amount of the environmental remediation liability?
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Related Book For 
Principles Of Auditing: An International Perspective
ISBN: 9780077095321
1st Edition
Authors: Rick Stephan Hayes, Philip Wallage, Arnold Schilder, Roger Dassen
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