Established in 1972, the Financial Accounting Foundation (FAF) is the independent, private-sector, not-for-profit organization based in Norwalk, Connecticut responsible for the oversight, administration, financing, and appointment of the Financial Accounting Standards Board (FASB) and the Governmental Accounting Standards Board (GASB). 

The FASB and GASB establish and improve financial accounting and reporting standards – known as Generally Accepted Accounting Principles, or GAAP – for public and private companies, not-for-profit organizations, and state and local governments in the United States. 

The FAF directs the effective, efficient, and appropriate stewardship of the FASB and GASB in carrying out their missions; selects and appoints FASB and GASB members and their advisory councils; oversees the Boards’ activities and due process; and promotes and protects the independence of the Boards.

The FAF Board of Trustees comprises 14-18 members from varied backgrounds—users, preparers, and auditors of financial statements; state and local government officials; academics; and regulators. 

For more information about the FAF, visit www.accountingfoundation.org

Accounting

Financial Accounting Foundation (FAF)

Financial Accounting Foundation (FAF)'s headquarters in Norwalk, CT, United States

Description

People (15)

John W. Auchincloss

Mary P. Crotty

Mary Ann Boland

Eileen Foley

Zakareya Lasefr

Janet Brody

Lisa Pittu

Christine Klimek

Dana Freeman

Betsy T.

Adenike Fadina

Scott Logan

Adrian Cardone

Emilie Herman

Kip Betz

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