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SEP
2006, North Carolina:
Several european holdings retained EIC to conduct self-disclosure audits
for multimedia environmental compliance at
its facilities in New Jersey and North Carolina. At multiple
locations, EIC conducted thorough audits of
the facility operations and identified numerous areas that were out
of compliance. In absence of the audit, the regulatory community
had the authority to levy hefty fines as well as the potential to
extend civil and criminal actions. EIC is currently assisting
the industry in negotiating a waiver of $235,000 in penalties and
legal actions for non-compliance areas under the EPA
Self-disclosure policy and the State of New Jersey. Based on the
audit, EIC initiated various corrective actions to eliminate perpetual
liabilities associated with the areas of non-compliance. The
environmental audit will also help the industry potentially comply
with the Sarbanes-Oxley Act (SOX) stipulations which requires publicly
traded firms to fully and accurately disclose environmental
liabilities in its financial statements.
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