Key Benefits
- Compliance with US GAAP
- Third party validation of environmental reserves
- Comprehensive repository for site-specific information, assumptions and calculations
- Delivery of an Environmental Reserve Validation Summary report including a site
characterization, a description of key site-specific assumptions and exclusions,
as well as the calculated reserve forecasts
- Periodic update reporting
Environmental Reserve Validation
ERCI provides an independent review and assessment of the current environmental
liability reserves. In the course of validating this information, ERCI conducts
interviews with project managers, environmental division management, and any other
key site / portfolio stakeholders. ERCI uses its Defender environmental liability
forecasting software to capture and validate key site-specific assumptions and exclusions,
as well as the calculated liability forecasts.
Key Benefits
- Formation or third-party validation of a comprehensive organizational environmental
reserve policy and standard operating procedure for the recognition and documentation
of environmental liabilities
- Expert guidance in best practices for environmental reserve policies/procedures
Environmental Reserve Policy
Formation and Review
ERCI works closely with its clients to develop appropriate environmental reserve
policies and standard operating procedures (SOPs) for recognizing and documenting
environmental liabilities. In the event that such policies and procedures exist,
ERCI provides an independent review and assessment of the current reserve policy.
In the course of this process, ERCI conducts interviews with the client’s project
managers, environmental division management, and any other key site / portfolio stakeholders.