- Our Mission
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- Our Staff Members
- Our Contact Information
- Accounting and Auditing Policy Committee
- Board Activities
- Active Projects
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- AICPA Omnibus
- Application of the Liability Definition
- Asbestos-Related Liabilities
- Concepts – Elements
- Concepts – Measurement Attributes
- Concepts – Objectives
- Deferral of the Transition to Basic Information for Long-Term Projections
- Deferred Maintenance & Asset Impairment
- Earmarked Funds (Evaluating Existing Standards)
- Estimating the Historical Cost of General Property, Plant, and Equipment
- FASB Reporting by Federal Entities
- Fiscal Sustainability Reporting: SFFAS 36
- Grant Programs: Accrual Estimates
- Heritage Assets and Stewardship Land
- Inter-Entity Costs
- Managerial Cost Accounting – Federal Reporting Model
- Reporting Changes in Assumptions and Other Issues
- Social Insurance
- Staff Implementation Guidance 31.1: Guidance for Implementation of Statement of Federal Financial Accounting Standards 31, Accounting for Fiduciary Activities
- Stewardship Investments
- Technical Inquiries
The Accounting and Auditing Policy Committee (AAPC) was organized in May 1997 by the Department of the Treasury, the Office of Management and Budget (OMB), the Government Accountability Office (GAO), the Chief Financial Officers’ Council (CFOC), and the Council of the Inspectors General on Integrity and Efficiency (CIGIE) [formerly the President's Council on Integrity and Efficiency (PCIE)], as a body to research accounting and auditing issues requiring guidance.
The AAPC serves as a permanent committee established by the Federal Accounting Standards Advisory Board (FASAB). The mission of the FASAB is to develop accounting standards after considering the financial and budgetary information needs of congressional oversight groups, executive agencies, and the needs of other users of federal financial information. The mission of the AAPC is to assist the federal government in improving financial reporting through the timely identification, discussion, and recommendation of solutions to accounting and auditing issues as they relate to the specific application of existing authoritative literature.
The AAPC consists of 11 members — three from the Chief Financial Officers (CFO) community, three from the Inspectors General (IG) community, one each from the FASAB sponsors (the Department of the Treasury, GAO, and OMB), an at-large member, and a non-voting member from the FASAB staff.
The AAPC is intended to address issues that arise during implementation of FASAB pronouncements and are not specifically or fully discussed in federal accounting and auditing standards. Guidance developed by the AAPC is cleared by FASAB before being issued.
Additional background information on the AAPC is available from the AAPC Charter and Operating Procedures.
- “Charter of the Accounting and Auditing Policy Committee”
- Accounting and Auditing Policy Committee Operating Procedures