ACCOUNTING AND AUDIT POLICY COMMITTEE MEETING

ACCOUNTING AND AUDIT POLICY COMMITTEE MEETING FINAL MINUTES July 18, 2006 The meeting was convened at 1:00 PM in room 6N30 of the GAO Building, 441 G St., NW, Washington, DC. ADMINISTRATIVE MATTERS • Attendance Present: Ms. Comes, Ms. George, Ms. Healy, Messrs. Bragg, Dingbaum, James, Synowiec and Gary Ward (for Mr. Sturgill). Absent: Messrs. Campbell, McFadden, and Sturgill • Minutes The minutes of March 14, 2006 were previously approved as final, having been circulated by E-mail to members. • Administrative Ms. Wendy Comes, AAPC Chairperson, introduced the three newest AAPC members. Mr. Luther Bragg , Assistant Auditor General, Financial Management and Comptroller Audits – Department of the Navy, Naval Audit Service, is the newest PCIE representative replacing Bill Maharay; Ms. Patricia Healy, Deputy CFO – US Department of Agriculture, is the newest CFOC representative replacing James Taylor; and Mr. Frank Synowiec, Assistant Director – GAO, replacing Janet Krell. Ms. Comes and the other members welcomed Luther, Pat, and Frank to the Committee. • Project Agenda Status Inter-Entity Cost Ms. Monica Valentine, FASAB Assistant Director, on behalf of Mr. McFadden and Dorrice Roth, chairpersons of the AAPC Inter-Entity Cost task force, gave an update on the current status of the work of the task force. The task force developed a survey to ask Federal agencies questions about their views on SFFAS’s definition of “broad and ...