By Margaret Halasnik
Discover. Disclose. Correct. Prevent recurrence. These are the key words in the U.S. Environmental Protection Agency (EPA) Audit Policy. The EPA is currently testing a number of tailored incentives that apply to new owners of regulated companies who identify, voluntarily disclose, and promptly correct environmental violations.
These incentives were described in the “Interim Approach to Applying the Audit Policy to New Owners” (Interim Approach, Federal Register Vol. 73, 44991, August 1, 2008). The incentives include reduction or elimination of fines and potential criminal prosecution and recognition of new owners who perform internal audits and disclose under the Audit Policy.
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