Media Advisory 05/26/21

FAF Issues 2020 Annual Report,
“Standards That Work from Main Street to Wall Street”


Norwalk, CT—May 26, 2021—The Financial Accounting Foundation (FAF) today posted its 2020 Annual Report to the FAF website.  The report is available as a printable PDF file and as an interactive digital version.

The annual report theme is “Standards That Work from Main Street to Wall Street.” The report provides a look at how the FASB and GASB supported stakeholders through an unprecedented year. By monitoring and responding to the situation as it evolved, the Boards sought to reduce the impact of the COVID-19 pandemic by providing technical assistance, delaying standard implementations, and always ensuring stakeholder needs were the top priority.

The 2020 Annual Report includes:
  • Letters from FASB, GASB, and FAF leadership
  • Snapshots of 2020 stakeholder outreach and engagement along with the many actions taken to ease the unforeseen challenges of the year
  • Complete 2020 management’s discussion and analysis and audited financial statements (previously posted to the FAF website). 
The annual report is available online as a downloadable PDF file, along with a mobile-friendly version at accountingfoundation.org/street. The online version also includes complete lists of all FASB and GASB advisory group members, including the Emerging Issues Task Force and the Private Company Council.