NEWS RELEASE 12/10/12

FAF Trustee Mary S. Stone Takes Leave of Absence from Board

Norwalk, CT, December 10, 2012—The Board of Trustees of the Financial Accounting Foundation (FAF), the oversight body of the Financial Accounting Standards Board (FASB) and the Governmental Accounting Standards Board (GASB), today announced that Trustee Mary S. Stone has requested and been granted a leave of absence from the Board, effective immediately.

About the Financial Accounting Foundation

The FAF is responsible for the oversight, administration, and finances of both the Financial Accounting Standards Board and its counterpart for state and local government, the Governmental Accounting Standards Board. The FAF also is responsible for selecting the members of both Boards and their respective Advisory Councils.