The Accounting and Auditing Policy Committee (AAPC) is a permanent committee authorized to improve federal financial reporting through the timely identification, discussion, and recommendation of solutions to accounting and auditing issues.
Guidance in the form of Technical Releases is developed by AAPC and must be reviewed by FASAB before being issued. AAPC may not amend existing standards nor promulgate new standards.
Documents for Comment
Conforming Amendments to Technical Releases for SFFAS 50… due 1/9/17
AAPC is not intended to serve as a mediator for preparers, program managers, and/or auditors.AAPC consists of 11 members—three from the Chief Financial Officer community, three from the Inspectors General community, one each from the FASAB sponsors (the Department of the Treasury, the Government Accountability Office, and the Office of Management and Budget), an at-large member, and a nonvoting member from the FASAB staff.
Additional background information on AAPC is available in the following PDF documents:
- Charter of the Accounting and Auditing Policy Committee
- Accounting and Audit Policy Committee Operating Procedures
- AAPC Task Force Roles and Responsibilities
Please visit the FASAB Newsroom for news on behalf of AAPC.