Who Oversees Fasb?

The Financial Accounting Standards Board (FASB) develops and sets financial accounting standards in a transparent and inclusive process with the goal of promoting financial reporting that gives relevant information to investors and other parties that rely on financial reports for their decisions.The Financial Accounting Foundation (FAF) provides assistance and oversight to the Financial Accounting Standards Board (FASB).

Who is on the FASB board?

The board is backed up by a team of more than 60 people. The Financial Accounting Foundation (FAF) board of trustees announced in December 2019 that Richard Jones will succeed Russell Golden as head of the Financial Accounting Standards Board (FASB) when his tenure expired at the end of June 2020.

What is the difference between FASB and FASAC?

The Financial Accounting Foundation, the Financial Accounting Standards Advisory Council (FASAC), the Governmental Accounting Standards Advisory Council (GASAC), and the Governmental Accounting Standards Board are all part of an independent structure that includes the Financial Accounting Foundation, the Financial Accounting Standards Advisory Council (FASAC), the Governmental Accounting Standards Advisory Council (GASAC), and the Governmental Accounting Standards Board (GASB).

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