Committees

Accounting Advisory Council

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Accounting Advisory Council

Scope

The Accounting Advisory Council (AAC) shall be concerned with all accounting matters involving public or private regulatory bodies. The AAC shall approve AGA's advocacy positions to be taken with the Financial Accounting Standards Board (FASB) and the American Institute of Certified Public Accountants (AICPA). The AAC shall recommend positions on accounting issues to be taken with the Federal Energy Regulatory Commission (FERC), the United States Securities and Exchange Commission (SEC), and the National Association of Regulatory Utility Commissioners (NARUC). Further, the AAC shall clear information to be distributed outside the accounting related committees, including any necessary coordination with appropriate groups such as the Edison Electric Institute (EEI).

Committee Roster

Roster »

 

Typical Committee Memeber

Members of the AAC are chief accounting officers and are typically vice president and controller.

Benefits of Committee Memebership

Council members approve positions on accounting issues that are sent outside the industry.  To make well-reasoned judgments on these issues, the council maintains liaison with the Financial Accounting Standards Board (FASB), the Chief Accountant’s offices at FERC and SEC and with the utility partners of the big four accounting firms.  Hence, active participation fosters a broad perspective on current accounting topics.  AGA is affiliated with NASBA, the National Association of State Boards of Accountancy, and offers continuing professional education (CPE) hours for all of its meetings.

Products and Services

The council jointly sponsors with EEI an annual Chief Accounting Officers’ and Accounting Staff Conference that helps participants stay current on accounting and regulatory issues.  It also sponsors an annual liaison with the FASB; members of the council make presentations to the FASB on topics of significant industry interest.

Interaction with other AGA Committees/Outside Organizations

This council works closely with the Accounting Principles Committee and maintains liaison with other AGA accounting committees.  It interacts and maintains liaison with the leadership of similar committees of trade and professional associations, e.g., AICPA, EEI, INGAA and the U.S. Telephone Association.