Incident reporting system has been proved to be very effective method for monitoring safety performance and reducing accidents. When carried out effectively, the process generates invaluable safety data from which an organization can learn about past mistakes and take steps to prevent future recurrence. But with no standards, and also very little guidance from publicly available literature, there are lot of differences among existing incident reporting systems in the different process industries in Sweden. This study analyzed and compared the incident reporting systems of 8 sampled process industries in Sweden from the perspectives of an established criterion for designing and implementing efficient incident reporting systems through information gathered from mail survey, using questionnaire. Analysis of the results showed that none of the 8 companies met all the criteria required of an efficient incident reporting system. The incident reporting systems of each of the 8 companies met the requirements in one aspect or the other. One (1) company was found to meet most aspects of the criteria, (i.e. 5 aspects). These include: non provision of discipline: training: confidentiality: good feedback: and completion of a form by more than one person). Despite this, it could still not be proved that the incident reporting system of this company is the most efficient one to prevent accidents. The reason being that the company did not meet the entire requirement, and there were some aspects of the criteria it did not meet, but which were met by the other 7 companies. The research identified the need for further research which could lead to establish a unified and most efficient incident reporting system for the process industries in Sweden.