Federal Issues & Standards (FISC)

Leadership:

Andrew Lewis, CPA – Chair

KPMG

aclewis@kpmg.com

Purpose: 

The Federal Issues and Standards Committee will:

• Review and evaluate proposed new Federal accounting and auditing standards;
• Monitor and evaluate proposed legislation affecting the profession;
• Address issues related to Federal agency financial statements and audits;
• Define the profession's role in GPRA;
• Coordinate with AICPA / GAAC on matters of mutual interest; and,
• Maintain liaison with groups, including -
  • FASAB
  • GAO
  • PCAOB
  • AGA
  • ACGAS
  • OMB
  • AICPA
  • CFO Council
  • AAPC
  • PCIE
  • ECIE
  • others deemed appropriate by the committee.

Meetings: 

As needed. Review often takes place via email.

 View Exposure Drafts for comment here: http://www.fasab.gov/exposure.html

VIEW RECENT EXPOSURE DRAFT RESPONSES ISSUED BY FISC:

Sept. 2009:

GWSCPA's Federal Issues and Standards Committee reponse to "Accounting for Federal Oil and Gas Resources".