NEWS RELEASE 04/29/13
FAF and FASB Mark 40th Anniversary with Updated Branding, New Websites
New FASB website launches today, FAF and GASB sites to follow
Norwalk, CT, April 29, 2013—Launching a 40th anniversary celebration of the Financial Accounting Foundation (FAF) and the Financial Accounting Standards Board (FASB), the FAF today unveiled new branding and logos for the FAF, the FASB, and the Governmental Accounting Standards Board (GASB).
The FASB also launched its new website, which features revamped, more user-friendly navigation, new “plain English” explanations of major FASB projects, and a digital timeline highlighting the most important events in the history of the three organizations.
New FAF, FASB, and GASB Logos
“As standard setters for the world’s most robust and dynamic economy, the FAF, the FASB, and the GASB are responsible for ensuring that financial reporting meets the needs of investors who keep our economy thriving,” said Teresa S. Polley, FAF president and CEO. “The new branding associated with this responsibility reflects that significance, with each component designed to reflect our shared commitment to working on behalf of U.S. investors and global capital markets.”
Ms. Polley continued, “Our fortieth anniversary celebration provides the ideal opportunity to refresh our brand in a way that reinforces the organizations’ missions and highlights their contributions from the past while looking ahead to the future.”
The new logos utilize consistent visuals. Each organization has a specific “primary” color, as well as two highlight colors that represent the other two organizations. This integrated use of color emphasizes the unity among the three organizations, while leveraging awareness of one organization in relation to the others.
New FASB Website and Interactive Digital Timeline
The new FASB website has been redesigned to be a primary source for thought leadership, news, and information about financial accounting and reporting standards for public and private companies, and not-for-profit organizations. It includes videos and other new content intended to communicate up-to-the-minute information with all stakeholders, ranging from those who are new to the FASB and its activities to the technical accounting expert.
To commemorate the milestone anniversary, the new FASB website also features an interactive digital timeline that tells the story of the FAF, the FASB, and the GASB through photos, videos, and quotes from the past 40 years.
“The FASB website does more than just showcase our new logo. It’s a more intuitive web platform that makes it easier to find the latest updates on projects and initiatives like international convergence and XBRL,” stated FASB Chairman Leslie F. Seidman. “With more video, media, and visuals, the new FASB website is designed to be more user friendly and dynamic.”
Redesigned FAF and GASB websites will be unveiled in coming months. In the interim, the new FAF and GASB logos will be available for the public to view via temporary webpages. The new branding, including more information on the 40th anniversary, will also be presented in the Financial Accounting Foundation 2012 Annual Report, which will be issued in May.
The FAF worked with H20, the creative services division of New York-based Peppercomm, to develop a brand positioning that captures the significance and stature of the standard setter’s role and to create the new visual identity that reflects its mission. The new websites were designed by Ball & Chain, LLC, based in Stamford, CT.
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 governments, the Governmental Accounting Standards Board. The FAF also is responsible for selecting the members of both Boards and their respective Advisory Councils. For more information about the FAF, visit www.accountingfoundation.org.
About the Financial Accounting Standards Board
Since 1973, the Financial Accounting Standards Board has been the designated organization in the private sector for establishing standards of financial accounting and reporting. Those standards govern the preparation of financial reports and are officially recognized as authoritative by the Securities and Exchange Commission and the American Institute of Certified Public Accountants. Such standards are essential to the efficient functioning of the economy because investors, creditors, auditors, and others rely on credible, transparent, and comparable financial information. For more information about the FASB, visit our website at www.fasb.org.
About the Governmental Accounting Standards Board
The GASB is the independent, not-for-profit organization formed in 1984 that establishes and improves financial accounting and reporting standards for state and local governments. Those standards govern the preparation of financial reports and are officially recognized as authoritative by U.S. state and local governments and the American Institute of Certified Public Accountants. Its seven members are drawn from the Board’s diverse constituency, including preparers and auditors of government financial statements, users of those statements, and members of the academic community. More information about the GASB can be found at its website, www.gasb.org.