Accountability and accounting regulation: the case of the Spanish environmental disclosure standard

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Accountability and accounting regulation: the case of the Spanish environmental disclosure standard

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Carlos Larrinaga
Francisco Carrasco
Carmen Correa
Fernando Llena
José Moneva

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Abstract

Mandatory environmental reporting has been seen as a way of increasing accountability of organizations, regarding environmental issues. This paper is concerned with one standard, which requires all the Spanish companies to include environmental disclosures in their financial statements. From the survey of the rationale of the disclosure requirements we suggest that more sound environmental initiatives are obscured by an end-of-pipe emphasis. Additionally, from the research of the reporting activity of a sample of companies a low compliance level results, with roughly 80% of companies not providing any environmental information. In addition, those companies who are reporting some environmental information neglect those aspects of the regulation that are not in their interests to report. The interpretation of these findings, using the theoretical distinction between administrative and institutional reforms , leads us to conclude that the Spanish standard on environmental disclosure is insufficient to enable new accountability relationships and to empower stakeholders.

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Article provided by Taylor and Francis Journals in its journal European Accounting Review.

Volume (Year): 11 (2002)
Issue (Month): 4 (October)
Pages: 723-740
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Handle: RePEc:taf:euract:v:11:y:2002:i:4:p:723-740

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References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:

A Giner Inchausti, 1997. "The influence of company characteristics and accounting regulation on information disclosed by Spanish firms," European Accounting Review, Taylor and Francis Journals, vol. 6(1), pages 45-68, May. [Downloadable!] (restricted)
Neu, D. & Warsame, H. & Pedwell, K., 1998. "Managing public impressions: environmental disclosures in annual reports," Accounting, Organizations and Society, Elsevier, vol. 23(3), pages 265-282, April. [Downloadable!] (restricted)
Jose M. Moneva, Fernando Llena, 2000. "Environmental disclosures in the annual reports of large companies in Spain," European Accounting Review, Taylor and Francis Journals, vol. 9(1), pages 7-29, May. [Downloadable!] (restricted)

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(explanations, Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.)

Carlos Larrinaga-González & Vicente Pérez-Chamorro, 2008. "Sustainability Accounting And Accountability In Public Water Companies," Working Papers 08.05, Universidad Pablo de Olavide, Department of Business Administration. [Downloadable!]
Other versions:
- Carlos Larrinaga-Gonzélez & Vincente Pérez-Chamorro, 2008. "Sustainability Accounting and Accountability in Public Water Companies," Public Money & Management, Chartered Institute of Public Finance and Accountancy, vol. 28(6), pages 337-343, December. [Downloadable!] (restricted)
Irene Criado-Jiménez & Manuel Fernández-Chulián & Carlos Larrinage-González & Francisco Husillos-Carqués, 2008. "Compliance with Mandatory Environmental Reporting in Financial Statements: The Case of Spain (2001–2003)," Journal of Business Ethics, Springer, vol. 79(3), pages 245-262, May. [Downloadable!] (restricted)

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