The Association of Government Accountants (AGA) recently voiced its concerns on defects they found in the Sustainable Accounting Standards Board's (SASB) suggested standards for a draft gas utility process.
As an unofficial accounting board, SASB is not authorized to create reports that the Securities and Exchange Commission (SEC) uses, which the Financial Accounting Standards Board (FASB) is authorized to do.
The AGA specifically was concerned about the absence of a knowledgeable source providing expert information for the draft standard, nor was AGA or any of its affiliates contacted for guidance. Due to this neglect, there are multiple problems with the information SASB developed for the public and stakeholders, including a loophole in cybersecurity.
AGA made it clear in its report that it played no part in SASB's creation of standards, nor should its findings be considered as any sort of confirmation of SASB's proposal. AGA also said the Gas Utilities Draft Standard's opinion is not necessarily to be considered the popular view of such matters. AGA is committed to constantly improving its standards and practices, and has been partnering with companies in the U.S. Environmental Protection Agency's (EPA) Natural Gas STAR organization for over 20 years. The company's board of directors agreed on a commitment to safety and is dedicated to reducing natural gas emissions, reducing them 16 percent since 1990, despite the 17 million people they provide gas for and 300,000 miles of mains they use. AGA said SASB's murky message is in direct opposition to the business practices it abides by, insisting instead on straight-forward, factual information.
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