The Board of Trustees of the Financial Accounting Foundation (FAF) has appointed John Auchincloss as executive director of the Foundation. The FAF oversees the US’ Financial Accounting Standards Board (FASB) and the Governmental Accounting Standards Board (GASB).

Auchincloss joined the FAF as vice president and general counsel in May 2016. In 2019, following the departure of then-president Terri Polley, he was appointed acting president while a search was conducted for an executive director of the Foundation. His appointment is effective immediately.

FAF chair Kathleen Casey said: “John has long impressed the FAF trustees with his intelligence, thoughtful strategic counsel, and commitment to the FASB and the GASB and their important mission. I am very pleased that we will continue to benefit from his strong leadership.”

Auchincloss said: “I am grateful to the FAF trustees and the entire organization for this opportunity to serve. The standard-setting boards have a unique role serving investors and other stakeholders across our capital markets. The entire FAF organization is committed to supporting the integrity of the independent standard-setting process and ensuring the boards have what they need to succeed.”

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By GlobalData