Mission Statement

The mission of the IADC Accounting Issues/Procedures Committee is to facilitate the exchange of information regarding accounting and financial reporting issues, current/proposed processes and compliance with FASB, PCAOB and SEC rules and regulations through the exchange of best practices among its committee members and the industry.

The functions of the Committee include:

• Providing an open exchange of information concerning accounting and reporting issues through regular meetings.

• Reviewing proposed rules and regulations as they may affect accounting and/or financial reporting practices. 

• Facilitating the dissemination of relevant accounting information to the industry. 

Committee Structure

The Committee will annually elect its Chairman from within its membership.  The Chairman may serve multiple terms.  As necessary, the committee will elect other committee officers or task group leaders to oversee specific disciplines or issues. 

Committee Meetings Policy

General meetings are open to participants from all categories of IADC membership.  The Chairman may invite non-members to attend when it furthers the interests of the Committee.  At the discretion of the Chairman and IADC staff, the meeting or portions of the meeting may be exclusively reserved for drilling contractor members.  Meetings will be held at such times and locations as may be selected by the Chairman with the advice of the Committee.