Answer
The committee on Accounting procedures was a committee of the American Institute of CPA's that was put together by the urging of SEC. It was made up of 51 CPA's which issued 51 accounting research bulletins which dealt with a wide variety of timely accounting issues. On the other hand their failings were the fact that they dealt with accounting problems as they popped up thus failing to give a structure of rules that the accounting body really needed.
Work Step by Step
After failing, the committee was replaced in 1959 by the Accounting Principle Board.
