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This study aims to investigate disclosure of asbestos-related liabilities in corporate accounts and counter-accounts to examine whether and how accounting contributes to corporate accountability for asbestos-contaminated products.

This study uses the Goffmanesque perspective on impression management to examine instances of concealed asbestos-related liabilities in corporate accounts vis-à-vis the revealing of such liabilities in counter-accounts.

The findings show counter-accounts provide significant information on liabilities originating from the exposure of employees and consumers to asbestos. By contrast, the malleability of accounting tools enables companies to eschew accounting disclosures. While the frontstage positive performance of companies served an impression management role, their backstage concealing actions enabled companies to cover up asbestos-related liabilities. These companies used three categories of mechanisms to avoid disclosure of asbestos-related liabilities: concealing via a “cloak of competence”, impression management via epistemic work and a silent strategy of concealment frontstage with strategic reorganisation backstage.

This study has policy relevance as regulators need to consider the limits of corporate disclosures as an accountability tool. The findings may also initiate academic and practitioner conversations about accounting standards for long-term liabilities.

This study highlights the strategies companies use both frontstage and backstage to avoid disclosing asbestos-related liabilities. Through analysis of accounts and counter-accounts, this study identifies the limits of accounting as an accountability tool regarding asbestos-induced diseases and deaths.

The purpose of this paper is to explore issues relating to imposing a ban on the importation of asbestos-contaminated building materials (ACBMs) in the Australian context to better understand the multiple accountabilities and consequences.

This study undertakes a qualitative content analysis of the multiple accountabilities and stakeholder expectations using the lens of actor–network theory. This study further explores the weaknesses and complexities associated with implementing a complete ban on asbestos, ensuring that only asbestos-free building materials are imported to Australia. This study uses data collected from 15 semi-structured interviews with stakeholders, responses from the Australian Border Force to a questionnaire and 215 counter accounts from the media, the Australian Government, industry organizations, non-governmental organizations and social group websites during the period from 2003 to 2021.

This study reveals that stakeholders' expectations of zero tolerance for asbestos have not been met. This assertion has been backed by evidence of asbestos contamination in imported building materials throughout recent years. Stakeholders say that the complete prevention of the importation of ACBMs has been delayed because of issues in policy implementations, opaque supply chain activities, lack of transparency and non-adherence to mandatory and self-regulated guidelines.

Stakeholders expect public and private sector organizations to meet their accountabilities through mandatory adoption of the given policy framework.

This research provides a road map to identify the multiple accountabilities, their related weaknesses and the lack of implementation of the necessary protocol, which prevents a critical aspect of legislation from being effectively implemented.