The Financial Accounting Foundation (FAF) Board of Trustees is soliciting nominations for various leadership positions. 

These include the chair and members of the Board of Trustees, the executive director of FAF, a member of the Financial Accounting Standards Board (FASB), and the chair of the Financial Accounting Standards Advisory Council (FASAC).  

While initiating the search for these roles, the FAF Board of Trustees Appointments Committee is prioritising diversity in experience and background to ensure a range of perspectives within the Boards and Councils. 

The incoming chair will serve a three-year term from 1 January 2026 to 31 December 2028, with eligibility for reappointment for a subsequent term commencing in 2029.  

It will lead strategic decision-making, overseeing appointments, governance, and represent the FAF to stakeholders and regulators.  

The FAF Board of Trustees provides oversight and support to both the FASB and the Governmental Accounting Standards Board (GASB), while the standard-setting Boards independently handle technical decisions on financial accounting and reporting standards. 

The FAF is also looking to appoint several “at-large” Trustees.  

These individuals will bring expertise from various sectors such as business, investment, capital markets, academia, finance, government, and regulation to contribute towards the Foundation’s objectives.  

The executive director of the FAF will head a team of approximately 45 professionals, delivering support services to the FASB and GASB, encompassing areas such as communications, legal, IT, human resources, and financial management.  

In partnership with the FAF chair, the executive director will devise and implement outreach strategies to foster relationships with crucial stakeholders domestically and internationally. 

The FASB member role, based in Norwalk, Connecticut, is a full-time position with a start date of 1 July 2026.  

The appointed member will be expected to begin earlier in the year to facilitate a smooth transition.  

The initial term lasts five years, ending on 30 June 2031, with the possibility of reappointment.  

Members work collaboratively to develop financial reporting standards that provide information to investors and other financial statement users. 

Lastly, the FASAC chair will lead advisory efforts to the FASB, guiding discussions on agenda items, priorities, procedural issues, and other relevant topics.  

This role ensures that the views of FASAC members are effectively communicated to both the FASB and FASAC.  

The term for the FASAC chair can last up to four years or a shorter duration as agreed upon at the time of appointment, with potential for reappointment.