1.1 Purpose-The purpose of this document is to provide a standard guide for good commercial and customary practice in estimating costs and liabilities for environmental matters.2 Many possible uses for estimates of costs and liabilities for environmental matters exist, including but not limited to business decision making and portfolio optimization, due diligence and communications involving acquisitions and divestitures, regulatory requirements, third-party lawsuits, insurance premium calculation and claim settlement, change of property use, revitalization, compliance planning, construction and project control, analysis of remedial alternatives, budgeting, strategic planning, audit defense, financing, and investment analysis by shareholders. The use of estimated costs and liabilities developed in accordance with this standard may be subject to other standards applicable to the matter involved. For example, it is not intended to supersede accounting and actuarial standards. This standard does not address the establishment of reserves or disclosure requirements.
Product Details
- Published:
- 03/01/2017
- Number of Pages:
- 19
- File Size:
- 1 file , 530 KB
- Redline File Size:
- 2 files , 1.3 MB
