Click here to download the report: The Gap in GAAP
This report tracked ten years of governmental, business and nonprofit studies that document significant underreporting by SEC registrants of financially material corporate environmental liabilities. It examines attempts by oversight agencies, advisory bodies and Congress to close the gaps in GAAP, and concludes with a set of recommendations for the SEC, including stepped up enforcement and enactment of the new regulations proposed by Rose Foundation’s petition to the SEC. This report was also credited with helping catalyze a sweeping series of changes in the Financial Accounting Standards Board’s environmental liability accounting guidelines. Part of the Environmental Fiduciary Report Series.