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THE ASSESSMENT OF RISKS OF ECOLOGICAL SAFETY BASED ON THE AUDIT OF ECOLOGICAL EXPENSES OF RUSSIAN CONSTRUCTION COMPANIES
Abstract
Construction industry plays an important part in the sustainable development of society. It affects people?s quality of life, their safety and nature. An increase in investment into the industry, as well as conservation and restoration of the environment, prevents the negative impact of human activities. Thus, it is of outmost importance for all stakeholders to receive credible information about the ecological risks construction companies pose out of their accounts reporting. The aim of the survey was to assess the risks of ecological hazards of the construction industry in the Russian Federation collected from the audit findings of the ecological expenses of major companies in the industry. It was also important to develop recommendations for disclosure of information about expenditures on environmental projects in key issues of audit reports on construction companies reports. The methods of the investigation were based on the standards of sustainable development and ecology, in full accordance with financial accountability documents from Russian construction companies which underwent the audit based on the international audit standards and the assignments which proved the validity of the information about the companies, the State Statistics Bureau, by Russian and foreign scientists specializing. The findings obtained disclosed that major holding construction companies have become the founders of the manufacturing businesses that produce building materials and thus have a significant impact on the whole industry, thereby having a major influence on the quality of the building materials, the schedule of works, how environmentally?friendly they are, if there are any by-products and waste, how labor- and resource-intensive their activities are. It has been revealed that Russian construction companies failed to specify all the ecological hazards caused by their activity in the accounting statements and consolidated financial reports. To improve the validity of the audit report as a valuable source of data necessary to take reasonable decisions by strategic stakeholders, we recommend that the explanations to the financial statements of construction companies, as well as the key issues of its audit, be supplemented with disclosure of information about environmental expenditures and indicators of environmental pollution.
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