NEWS & MEDIA

Financial Accounting Foundation Names Mary P. Crotty as Chief Operating Officer

Norwalk, CT, October 23, 2014—The Financial Accounting Foundation (FAF) today named Mary P. Crotty to the new position of chief operating officer. In her new role, Ms. Crotty will manage the Foundation’s business operations, including technology, finance, publications, and other key business activities. She will report to FAF President and Chief Executive Officer Teresa S. Polley....

News Release

FAF Statement on the Selection of James V. Schnurr as SEC Chief Accountant

Norwalk, CT, August 26, 2014—The Financial Accounting Foundation (FAF), the organization that oversees the Financial Accounting Standards Board (FASB) and the Governmental Accounting Standards Board (GASB), today issued the following statement on the selection of James V. Schnurr as the new chief....

News Release

Financial Accounting Foundation Names Washington State Investment Officer Gary Bruebaker to Its Board of Trustees

Norwalk, CT, June 24, 2014—The Financial Accounting Foundation (FAF) today appointed Washington State investment official Gary H. Bruebaker to the FAF Board of Trustees, effective July 1. Mr. Bruebaker currently is the chief investment officer for the Washington State Investment Board in Olympia, Washington....

News Release

Financial Accounting Foundation Names Two New Members to Governmental Accounting Standards Advisory Council

Norwalk, CT, May 29, 2014—The Board of Trustees of the Financial Accounting Foundation (FAF) today announced the appointment of two new members to the Governmental Accounting Standards Advisory Council (GASAC)....

News Release

GARS “Mobile” Version Now Available for Tablet Devices

Norwalk, CT, April 4, 2014—The Financial Accounting Foundation (FAF) today announced the release of a version of the GASB Governmental Accounting Research System® that has been designed for use on tablet devices....

News Release

Financial Accounting Foundation Reappoints David E. Sundstrom to a Second Term on the GASB

Norwalk, CT, February 27, 2014—The Financial Accounting Foundation (FAF) today announced that David E. Sundstrom, Sonoma County auditor-controller and treasurer-tax collector, will serve a second term as a member of the Governmental Accounting Standards Board (GASB). His term is effective from July 1, 2014 to June 30, 2019....

News Release

Post Implementation Review Concludes Fair Value Accounting Standard Meets Its Objectives

Norwalk, CT, February 25, 2014—A 2006 accounting standard that established a framework for measuring fair value within U.S. generally accepted accounting principles (GAAP) generally achieves its purpose....

News Release

GASB Launches GASB Outlook Quarterly E-Newsletter

Norwalk, CT, February 12, 2014—The Governmental Accounting Standards Board (GASB) today launched the GASB Outlook, a new quarterly, electronic newsletter designed to keep stakeholders informed about key GASB projects and activities....

News Release

FASB Codification Online Platform Now Available on Tablet Devices

Norwalk, CT, January 31, 2014—The Financial Accounting Foundation (FAF) today announced that the Financial Accounting Standards Board’s FASB Accounting Standards Codification® (FASB Codification) has been enabled for use on tablet devices....

News Release

Financial Accounting Foundation Names Steven E. Buller as Chairman of the Financial Accounting Standards Advisory Council

Norwalk, CT, January 30, 2014—Steven E. Buller, managing director and former chief financial officer of BlackRock, Inc., has been appointed chairman of the Financial Accounting Standards Advisory Council (FASAC). His term begins on February 1, 2014, and concludes on December 31, 2015....

News Release

Financial Accounting Foundation to Provide Up to $3 Million to IFRS Foundation to Aid Completion of Joint IASB Projects

Norwalk, CT, January 28, 2014—The Financial Accounting Foundation (FAF) today announced that it will make a non-recurring contribution of up to $3 million to the International Financial Reporting Standards Foundation (IFRSF) to support the completion of international convergence projects....

News Release

FASB Launches FASB Outlook Quarterly E-Newsletter

Norwalk, CT, January 23, 2014—The Financial Accounting Standards Board (FASB), today launched the FASB Outlook, a new quarterly, electronic newsletter designed to keep stakeholders informed about key FASB projects and activities....

News Release

FAF Releases Updated Print Edition of FASB Accounting Standards Codification®

Norwalk, CT, January 21, 2014—The Financial Accounting Foundation (FAF) today released an updated print edition of the Financial Accounting Standards Board’s FASB Accounting Standards Codification®, the single, authoritative source of U.S. Generally Accepted Accounting Principles (U.S. GAAP)...

News Release

FASB and PCC to Host Private Company Town Hall at The University of Washington

Norwalk, CT, January 21, 2014—The Financial Accounting Standards Board (FASB) and the Private Company Council (PCC) will host their second Private Company Town Hall Meeting taking place on May 8, 2014, at the University of Washington in Seattle, Washington....

News Release

Financial Accounting Foundation Names Investor Ann M. Spruill to Its Board of Trustees

Norwalk, CT, December 31, 2013—The Financial Accounting Foundation (FAF) today appointed investor and asset manager Ann M. Spruill to the FAF Board of Trustees, effective January 1, 2014...

News Release

Financial Accounting Foundation Appoints 10 New Members to the Financial Accounting Standards Council

Norwalk, CT, November 25, 2013—The Board of Trustees of the Financial Accounting Foundation (FAF) today appointed 10 new members to the Financial Accounting Standards Advisory Council (FASAC)....

News Release

Financial Accounting Foundation Names Six New Members to the Governmental Accounting Standards Advisory Council

Norwalk, CT, November 25, 2013—The Board of Trustees of the Financial Accounting Foundation (FAF) today announced the appointment of six new members to the Governmental Accounting Standards Advisory Council...

News Release

Financial Accounting Foundation Names Maryland State Treasurer Nancy K. Kopp to Its Board of Trustees

Norwalk, CT, November 19, 2013—The Financial Accounting Foundation (FAF) today announced that it has appointed Maryland State Treasurer Nancy K. Kopp to the FAF Board of Trustees, effective January 1, 2014....

News Release

FAF Issues Final Policy on GASB Scope of Authority

Norwalk, CT, November 19, 2013—The Financial Accounting Foundation (FAF) Board of Trustees today adopted a new policy that clarifies the characteristics of the information the Governmental Accounting Standards Board (GASB) may incorporate into the financial...

News Release
Final Policy on GASB Scope of Authority

Post Implementation Review Concludes Income Tax Standard Generally Achieves Its Purpose

Norwalk, CT, November 19, 2013—A 1992 accounting standard addressing the accounting for income taxes generally achieves its purpose. That was the central conclusion of the post-implementation review (PIR)...

News Release
FASB Statement 109 PIR Report

FAF Issues Updated GASB Annual Bound Editions

Norwalk, CT, November 5, 2013—The Financial Accounting Foundation (FAF) today released an updated print edition of the Governmental Accounting Standards Board’s (GASB) Codification of Governmental Accounting and Financial Reporting Standards....

News Release

PCC Finalizes Two Private Company Standards; Sends to FASB for Endorsement

Norwalk, CT, October 1, 2013—The Private Company Council (PCC) today voted to finalize two alternatives within U.S. Generally Accepted Accounting Principles (GAAP) for accounting for interest rate swaps and, separately, accounting for goodwill in a business combination for private companies....

News Release

FAF Issues Revised Proposal on GASB Scope of Authority

Norwalk, CT, August 20, 2013—The Financial Accounting Foundation (FAF) Board of Trustees today issued for comment a revised proposal to clarify the characteristics of information that the Governmental Accounting Standards Board (GASB) may incorporate into the financial...

News Release
Revised Proposal

FAF Review Concludes GASB Standards on Risk Financing and Insurance-Related Activity Achieve Their Purposes

Norwalk, CT, August 20, 2013—Two accounting standards established to improve the consistency and comparability in reporting U.S. state and local governments’ insurance activities achieve their purpose....

News Release
GASB Statement 10 and 30 PIR Report
  • October 23, 2014 Financial Accounting Foundation Names Mary P. Crotty as Chief Operating Officer
  • August 26, 2014 FAF Statement on the Selection of James V. Schnurr as SEC Chief Accountant
  • June 24, 2014 Financial Accounting Foundation Names Washington State Investment Officer Gary Bruebaker to Its Board of Trustees
  • May 29, 2014 Financial Accounting Foundation Names Two New Members to Governmental Accounting Standards Advisory Council
  • April 4, 2014 GARS “Mobile” Version Now Available for Tablet Devices
  • February 27, 2014 Financial Accounting Foundation Reappoints David E. Sundstrom to a Second Term on the GASB
  • February 25, 2014 Post Implementation Review Concludes Fair Value Accounting Standard Meets Its Objectives
  • February 12, 2014 GASB Launches GASB Outlook Quarterly E-Newsletter
  • January 31, 2014 FASB Codification Online Platform Now Available on Tablet Devices
  • January 30, 2014 Financial Accounting Foundation Names Steven E. Buller as Chairman of the Financial Accounting Standards Advisory Council
  • January 28, 2014 Financial Accounting Foundation to Provide Up to $3 Million to IFRS Foundation to Aid Completion of Joint IASB Projects
  • January 23, 2014 FASB Launches FASB Outlook Quarterly E-Newsletter
  • January 21, 2014 FAF Releases Updated Print Edition of FASB Accounting Standards Codification®
  • January 21, 2014 FASB and PCC to Host Private Company Town Hall at The University of Washington
  • December 31, 2013 Financial Accounting Foundation Names Investor Ann M. Spruill to Its Board of Trustees
  • November 25, 2013 Financial Accounting Foundation Appoints 10 New Members to the Financial Accounting Standards Council
  • November 25, 2013 Financial Accounting Foundation Names Six New Members to the Governmental Accounting Standards Advisory Council
  • November 19, 2013 Financial Accounting Foundation Names Maryland State Treasurer Nancy K. Kopp to Its Board of Trustees
  • November 19, 2013 FAF Issues Final Policy on GASB Scope of Authority
  • November 19, 2013 Post Implementation Review Concludes Income Tax Standard Generally Achieves Its Purpose
  • November 5, 2013 FAF Issues Updated GASB Annual Bound Editions
  • October 1, 2013 PCC Finalizes Two Private Company Standards; Sends to FASB for Endorsement
  • August 20, 2013 FAF Issues Revised Proposal on GASB Scope of Authority
  • August 20, 2013 FAF Review Concludes GASB Standards on Risk Financing and Insurance-Related Activity Achieve Their Purposes

Media Inquiries

All media inquiries are coordinated through the FAF Communications Department.

Christine L. Klimek

Senior Manager,
Media Relations & Executive Communications
(203) 956-3459 | clklimek@f-a-f.org

John C. Pappas

Senior Manager,
Media Relations & Constituent Communications
(203) 956-3440 | jcpappas@f-a-f.org

Jordan C. (Kip) Betz

Manager, Media Relations & Editorial Services
203-956-5201 | jcbetz@f-a-f.org

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From the President's Desk

June/July 2014—Are there opportunities to increase the comparability of standards set by the GASB and the FASB for accounting issues that are not unique to government?

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Presentations & Speeches

May 17, 2013 | FAF Update
FAF President & CEO Teresa S. Polley

Maryland Association of Certified Public Accountants (MACPA) | MACPA Innovation Summit
Presentation


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Video


March 2014 | FAF President & CEO Terri Polley Interviews Nancy K. Kopp and Ann M. Spruill in Parts 1 and 2 of “Meet the Trustees”

Part 1 | Part 2


September 2013 | FAF President & CEO Terri Polley Discusses PIR with Director Kim Petrone




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