July 27, 1990
TO: ACCOUNTING/TREASURERS COMMITTEE NO. 23-90
INDEPENDENT ACCOUNTANTS ADVISORY GROUP
RE: MEETING PROCEDURES
__________________________________________________________
As you know, membership in the Committee has grown to the
point where meetings are typically attended by sixty or more
persons. A regrettable, but understandable, consequence of this
growth in membership and attendance has been a reduction in open
and informal discussion of agenda items. Therefore, at the June
26 combined meeting, ideas for increasing participation and
otherwise improving the process of preparing for and conducting
committee meetings were solicited from attendees. A number of
very good suggestions of Committee and Advisory Group members
have been carefully considered, and several will be implemented
beginning with the next meeting. (Please note that the date of
the next meeting has been changed from September 11 to September
12 due to a conflict with an ICI-sponsored one-day conference on
the NASD 12b-1 proposal.) Each of the new procedures is
described below.
1. Agendas
Approximately six weeks prior to each meeting, a one-page
form will be provided, along with the meeting notice, for
committee members to record suggested agenda items. Committee
members will have about two weeks to collect ideas from other
individuals in their firms and return the completed form to the
ICI approximately four weeks prior to the meeting. The first
such form is attached for you to complete and return to the ICI
by August 15 for the September 12 meeting.
2. Responsibility for Agenda Items
In order to spread the burden for preparing for and
conducting the meetings and to increase participation at the
meetings, individual committee members will be requested to lead
the discussion of specific agenda items by describing the
background and essential issues. It would be most helpful if
committee members volunteer to handle agenda items when
completing the enclosed agenda suggestion form. Specific items
may be handled by a single member or more than one person. The
ICI staff will attempt to assist in coordinating a group effort.
3. Industry Committee Only Meeting
Beginning with the 1991 meeting schedule, one meeting per
year will be reserved for the Accounting/Treasurers Committee
only. The remaining meetings will continue to be joint meetings
of the Accounting/Treasurers Committee and the Independent
Accountants Advisory Group. In addition, beginning with the 1991
schedule, the number of meetings will be reduced from 4 to 3 and
will be scheduled as follows:
March - Joint Meeting
June - Accounting/Treasurers Committee Meeting
November - Joint Meeting
4. SEC Representative at Meeting
The Chief Accountant of the SEC's Division of Investment
Management (currently Larry Friend) will be invited to attend and
participate in the November meeting each year. We will initiate
this practice with the December 13, 1990 meeting. The AICPA
Investment Companies Committee has had great success with this
arrangement for its annual Spring meeting in Washington, DC.
5. Survey of Practices
Where possible, advance surveys of certain accounting or
reporting practices related to agenda items will be conducted for
presentation and discussion at the meetings.
6. Meeting Materials
Meeting materials will be mailed to committee members,
along with the agenda, in advance of the meetings. Any materials
not available at the mailing date will be handed out at the
meetings.
Also enclosed, in accordance with the suggestion of a
committee member, are the fax numbers of the committee members.
With your continued involvement and your cooperation in
these new procedures, we can all expect to be better informed and
more effective as an industry group.
Thank you for your attention and participation.
Richard A. Silver Michael J. Weiner
Chairman Vice Chairman
Enclosures