Joint meeting, Allegheny County Bar Association, Allegheny Mountain Section–Air & Waste Management Association

On October 12, 2006, Robert Collings, chair of our Environmental Practice Group, was a featured speaker at the joint luncheon meeting of the Allegheny County Bar Association and the Allegheny Mountain Section of the Air & Waste Management Association. The luncheon focused on the fair value reporting of environmental liabilities, especially with regard to the Financial Accounting Standards Board’s Interpretation No. 47, which addressed accounting for conditional asset retirement obligations (CAROs). The presentation provided background and information on the underpinnings of this accounting rule, potential legal requirements that may drive recognition of such CAROs, and examples of types of CAROs that may require liability recognition.