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).
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We are honored to mark this important milestone in FAF history, and to continue to support our standard-setting boards as they, and we, collectively fulfill our mission to establish and improve financial accounting standards for the world’s largest capital market.
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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. 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. 
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The Financial Accounting Foundation annual budget, financial statements, annual reports, and funding information.
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The Financial Accounting Foundation’s commitment to stakeholder outreach, including policymakers on Capitol Hill, is furthered through the work of the FAF’s Washington, DC office.
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