Financial Accounting Foundation

The Financial Accounting Foundation (FAF) is a non-profit organization based in Norwalk, CT. It is responsible for overseeing the activities of the Financial Accounting Standards Board (FASB) and the Governmental Accounting Standards Board (GASB). The FAF ensures the independence and due process of these standard-setting bodies, which are responsible for establishing and improving accounting standards in the United States.

The FAF plays a crucial role in maintaining the importance of Generally Accepted Accounting Principles (GAAP) and ensuring the transparency and accuracy of financial reporting. With a focus on stakeholder engagement, the FAF welcomes feedback and input from various parties, including private companies, investors, and the media. Through its website and various communication channels, the FAF provides opportunities for stakeholders to stay connected, provide feedback, and participate in the standard-setting process.

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