Problematic issues of accounting and reporting in extractive industries in the context of sustainable development
Search, extraction and enrichment of minerals are of the strategic importance for sustainable economic development. Accounting as an information system should provide interested users with reliable, complete and unbiased information on mining, however, national and international accounting standards...
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| Main Authors: | , |
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| Format: | Article |
| Language: | English |
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Zhytomyr Polytechnic State University
2021-12-01
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| Series: | Проблеми теорії та методології бухгалтерського обліку, контролю і аналізу |
| Subjects: | |
| Online Access: | http://pbo.ztu.edu.ua/article/view/251925 |
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| Summary: | Search, extraction and enrichment of minerals are of the strategic importance for sustainable economic development. Accounting as an information system should provide interested users with reliable, complete and unbiased information on mining, however, national and international accounting standards governing the accounting of mining enterprises and reporting requirements contain only general principles of regulation. The article analyzes the financial statements and audit reports of mining companies to reflect their information about activities. It was found that companies are not interested in disclosing information related to exploration and evaluation of minerals, the impact of such exploration on the environment, the cost of environmental protection. The inclusion of environmental sustainability indicators in the reporting of extractive industries will help to consume resources efficiently, minimize disturbances, reduce pollution, as well as close and rehabilitate depleted mine lands. Attention should be paid not only to the information in the reporting, but also to the relevant audit. |
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| ISSN: | 1994-1749 2708-4957 |