News Release 05/11/15


Norwalk, CT—May 11, 2015—The Financial Accounting Foundation (FAF) today announced that Todd L. Cranford will become its new head of government affairs and external relations, based in Washington DC, effective June 1, 2015.

In his new role, Mr. Cranford will be responsible for managing the organization’s relationships with government officials and other key stakeholders, communicating the goals, priorities, and activities of the FAF, the Financial Accounting Standards Board (FASB), and the Governmental Accounting Standards Board (GASB). Mr. Cranford will assume his new responsibilities following the retirement on May 29 of Grace L. Hinchman, who currently leads the FAF’s government affairs and external relations efforts.

“We are very pleased to welcome Todd Cranford to his new role in Washington,” said FAF President and Chief Executive Officer Teresa S. Polley. “Todd’s extensive experience in government relations and public policy—combined with his deep understanding of the legal and regulatory environment in which we operate—will enhance our communication with government stakeholders about the importance of the independent standard-setting process to the U.S. capital markets.”

Ms. Polley praised the work of Ms. Hinchman, who joined the FAF in 2009 and led the organization’s government affairs and external relations activities for the past five years. “Grace took our efforts in Washington to a new level, and developed a strong network of relationships on which we will continue to build. We are deeply indebted to her for her tireless dedication and commitment to the FAF, the FASB, and the GASB, and wish her the best in her retirement.”

Mr. Cranford has spent most of his professional career in Washington, DC, with more than 20 years of experience in both private and public sector roles. Most recently, he was director of government relations for the Certified Financial Planner Board of Standards, Inc., where he developed and executed comprehensive advocacy strategies to advance the organization’s policy initiatives. Prior to joining the CFP Board, he was of counsel at Patton Boggs LLP (now Squire Patton Boggs), where he advised clients—including corporations, trade associations, and coalitions—on issues related to the financial services sector, including the Dodd-Frank Wall Street Reform and Consumer Protection Act.

Earlier, Mr. Cranford served as senior counsel for the U.S. House of Representatives Committee on Financial Services, where he advised former Chairman Barney Frank (D-Massachusetts) and other committee members on legal and policy issues related to capital markets and securities. He also served as a senior counsel in the U.S. Securities and Exchange Commission’s Division of Enforcement, where he investigated and instituted actions involving violations of federal securities laws.

Mr. Cranford earned his J.D. from the Columbia University School of Law, and a Bachelor’s Degree from Dartmouth College.

About the Financial Accounting Foundation

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. For more information, visit