New EPA audit reporting regulations.The U.S. Environmental Protection agency Environmental Protection Agency (EPA), independent agency of the U.S. government, with headquarters in Washington, D.C. It was established in 1970 to reduce and control air and water pollution, noise pollution, and radiation and to ensure the safe handling and issued final regulations on the financial assurance provisions for local government owners and operators of municipal solid waste “Municipal waste” redirects here. For other uses, see Municipal waste (disambiguation). Municipal solid waste (MSW) is a waste type that includes predominantly household waste (domestic waste) with sometimes the addition of commercial wastes collected by a landfill facilities. Owners and operators of the landfill facilities that meet certain financial, public notice and record keeping and reporting requirements now can use a financial test to demonstrate financial assurance for closure, postclosure and corrective action costs. Local governments that meet the financial test must include the following in their operating records * A certification by the chief financial officer that the local government satisfied the requirements of the financial test. * Independently audited yearend financial statements for the latest year, prepared in accordance with generally accepted accounting principles The standard accounting rules, regulations, and procedures used by companies in maintaining their financial records. Generally accepted accounting principles (GAAP) provide companies and accountants with a consistent set of guidelines that cover both broad accounting , including an unqualified opinion Unqualified opinion An independent auditor's opinion that a company's financial statements comply with accepted accounting procedures. Antithesis of qualified opinion. unqualified opinion See clean opinion. . * A report by an independent CPA (Computer Press Association, Landing, NJ) An earlier membership organization founded in 1983 that promoted excellence in computer journalism. Its annual awards honored outstanding examples in print, broadcast and electronic media. The CPA disbanded in 2000. or appropriate state agency based on the EPA's procedures engagement relative to the local governments financial ratios. A copy of the final rule was published in the Federal Register on November 27, 1996. |
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