MOTIVATION & BACKGROUND Energy auditing has proved to be an effective and concrete method to achieve rapid improvements in energy efficiency in buildings and industrial processes. An energy audit detects where and how much energy is consumed in a facility, building or structure. It also helps calculating the efficiency of all building elements and systems that influences energy use. Energy Audit is defined as “The Verification, Monitoring and Analysis of use of energy including submission of Technical Report containing recommendations for improving energy efficiency with cost benefit, analysis and an action plan to reduce energy consumption”. While being an intern in an energy auditing company such as ‘ENSPAR Energy Solutions (P) Ltd’ in Bangalore
The environmental accounting can further classified into environmental financial accounting (EFA) and environmental management accounting (EMA). In 1998, the International Federation of Accountants (IFAC) originally defined environmental management accounting as: “The management of environmental and economic performance, through the development and implementation of appropriate environment-related accounting systems and practices. While this may include reporting and auditing in some companies, environmental management accounting typically involves lifecycle costing, full
These types of audits include multiple regulations, standards and government requirements which take care of the entire framework at once. The board of directors after analyzing the risks shares them with the shareholders giving them a clear picture of the current state and what may be expected in the future. Having this done, they now focus on the risks and manage them efficiently. There are various international standards and regulators for auditing. Some of them are listed below; International standards on auditing (ISA) – These are the professional standards for performing auditing and are laid down by the International Federation of Accountants (IFAC) under the supervision of International Auditing and Assurance Standards Board (IAASB).
The development of ethical behaviour will have to rely on the factors other than social and environmental accounting, such as a broader educations for professional, and the setting of appropriate standards of decision making by the people at the top of the organisation.  A paper “Accounting for the environment: Towards a theoretical perspective for environmental accounting and reporting”  published by Michael John Jones tried to provide a theoretical justification for environmental accounting and reporting. For this purpose, a model was constructed which underpinned environmental accounting and reporting. The Model consisted of 5 major parts: Environmental Dangers; Corporate Responsibility; New Relationship between Industry and the Environment; Measure Industry’s Impact; Disclosure and Report
It includes environmental auditing ISO 14010, 14011 and 14012; environmental labels and declarations ISO 14020, 14021 and 14024; environmental performance evaluation ISO 14031; life cycle assessment ISO14040, 14041, 14042 and 14043; and the inclusion of environmental aspects in product ISO 14060 (Christopher S. Decker 2003). ISO 14001 is an Environmental Management System standard that has structured to be applicable to virtually any industrial producer. It examines the following main categories of environmental management process: (1) establishment of an environmental policy, (2) environmental planning, (3) policy implementation and operation, (4) monitoring and corrective action programs, and (5) Management review. It provides a basic structure for industrial firms to improve their environmental performance through the establishment of environmental goals, implementation of a plan for achieving those goals, monitoring progress, and corrective action. In developing countries, ISO 14001 is in the developmental stage but it has created awareness among many industrial entities throughout the developed and developing countries (Vastag & Melnyk, 2002); (S. Banerjee 2007).
Environmental analysis is a strategic tool. It is a process to identify all the external and internal elements, which can affect the organization’s performance. The analysis entails assessing the level of threat or opportunity the factors might present. These evaluations are later translated into the decision-making process. The analysis helps align strategies with the firm’s environment.
There are many types of audits, but to be more specific the right types for this situation are the financial audits and the operational audits. The operational audit is a detailed examination of the objectives, arranging procedures, techniques, and consequences of the processes of a business. This kind of audit may be done internally or by an external body. The proposed result is an assessment of operations, possible with proposals for development. The financial audit is an investigation of the justice of the info contained inside a substance's budgetary articulations.
External auditors play a significant role in ensuring the financial statements are prepared with transparency ensuring that they do not mislead stakeholders, especially investor’s, lenders (banks). First, we going to explain the relationship between ethics and corporate governance, as we know that talking about corporate governance governing the business environment we partially referring to business ethics which workers have to comply with. Lastly, we discuss the governance role in auditing profession with the key focus on audit committee, external audit and internal
Introduction Environmental analysis refers to the use of strategic tools to identify internal and external elements that present opportunities and threats that can affect an organisations performance. Four environments/levels that can be evaluated when performing an environmental analysis include: Evaluating the Macro environment (using PESTEL Analysis) Evaluating the Industry Environment (using Porter Five Forces) Evaluating Strategic Group Evaluating the organisations resources and capabilities (an internal analysis using the VRINE model) The external environment consists of the first two environments mentioned above (The Macro environment and the Industry environment). The external environment provides
I wish to put up sustainable solutions to manage the environmental issues scientifically and this is possible only through the means of education. I have a strong desire to pursue my career in teaching and research in the fields of environmental engineering and the selection of my under graduation course in Energy and Environmental Engineering is mainly attributed towards my ambition. Bachelor of Technology in Energy and Environmental Engineering offered by Tamil Nadu Agricultural University (www.tnau.ac.in) is a unique course which has both the fundamentals of engineering courses and advanced engineering