The traditional financial statements disclosure is no longer sufficient to meet the stakeholder’s requirements
arising from the modern business world, as the increased demand for a better quality of life, turned the governing
bodies of the accountancy profession into a new strategy that aims to prepare a more informative financial
statement’s that includes information about the environmental issues to uphold a better living condition.
Accordingly, the success of organizations is no longer being measured by the amount of profit generated, instead
disclosing the eco efficiency of the company plays a genuine role while evaluating the company's success, since
such disclosures meets the global interest in environment simultaneously extends the accountability of
organizations beyond the traditional role of providing information to the stakeholder, therefore an international
accounting standard should be developed to govern the said disclosures (Mathews, 1997, p. 483).