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Exploring Natural Resource Asset Retirement Auditing in the Context of Sustainable Development

In: Proceedings of the 9th International Conference on Financial Innovation and Economic Development (ICFIED 2024)

Author

Listed:
  • Xue Yang

    (China Institute of Geo-Environment Monitoring)

  • Yan Gao

    (China Institute of Geo-Environment Monitoring)

Abstract

Natural resource asset retirement auditing plays a pivotal role in the pursuit of sustainable development. This audit evaluates the sustainability of resource management, enhances resource utilization efficiency, ensures compliance with legal and regulatory requirements, promotes institutional development, and fosters increased societal participation and public oversight. By identifying issues and deficiencies in resource management, the audit provides valuable guidance and recommendations for improving practices, optimizing resource utilization methods, reducing wastage, and advancing the level of sustainable resource utilization. Through rigorous compliance assessments, the audit safeguards against detrimental impacts on sustainable development resulting from non-compliance. Additionally, the audit drives the establishment of robust resource management systems, reinforcing regulatory frameworks and supervision mechanisms to improve transparency, standardization, and long-term sustainability. Furthermore, it emphasizes the significance of societal engagement and public oversight, thus enhancing transparency, fairness, and fostering broad consensus in resource management practices.

Suggested Citation

  • Xue Yang & Yan Gao, 2024. "Exploring Natural Resource Asset Retirement Auditing in the Context of Sustainable Development," Advances in Economics, Business and Management Research, in: Khaled Elbagory & Zefu Wu & Hamdan Amer Ali Al-Jaifi & Shafie Mohamed Zabri (ed.), Proceedings of the 9th International Conference on Financial Innovation and Economic Development (ICFIED 2024), pages 406-411, Springer.
    • Handle: RePEc:spr:advbcp:978-94-6463-408-2_46
    DOI: 10.2991/978-94-6463-408-2_46
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