February 26, 2015 11:28 PM ET

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Company Overview of Financial Accounting Foundation Inc.

Company Overview

Financial Accounting Foundation Inc. offers funding and selection services for the members of the Financial Accounting Standards Board (FASB) and Governmental Accounting Standards Board (GASB). The foundation operates for charitable, educational, scientific, and literary purposes. Financial Accounting Foundation was founded in 1972 and is based in Norwalk, Connecticut.

Main Avenue 401 Merritt 7C

Norwalk, CT 06851

United States

Founded in 1972



Key Executives for Financial Accounting Foundation Inc.

Chief Executive Officer and President
Vice President and Additional Trustee
Director of Government Relations
Vice President of External Relations & Communications
Secretary, Treasurer, and Trustee
Age: 53
Compensation as of Fiscal Year 2014.

Financial Accounting Foundation Inc. Key Developments

Financial Accounting Foundation Inc. Announces Executive Changes

NORWALK, Conn.--(BUSINESS WIRE)-- The Financial Accounting Foundation (FAF) announced that it has appointed Myra R. Drucker and John Veihmeyer to the FAF Board of Trustees, January 15, 2015 effective. Ms. Drucker currently serves as an independent director and chairs the Risk and Audit Committee of Grantham, Mayo, Van Otterloo & Co. LLC. She also serves as chair of the board of TrustedPeer Inc. Mr. Veihmeyer is Global Chairman of KPMG and Chairman and CEO of KPMG in the U.S. The terms of Ms. Drucker and Mr. Veihmeyer on the Board of Trustees extend to December 31, 2019. They replace Luis M. Viceira and Edward E. Nusbaum, whose terms ended on January 14, 2015.

Financial Accounting Foundation Inc. Appoints Seven New Members to the Financial Accounting Standards Advisory Council

Financial Accounting Foundation Inc. has appointed seven new members to the Financial Accounting Standards Advisory Council. According to a release, the FASAC is responsible for advising the Financial Accounting Standards Board (FASB) on strategic issues, project priorities, and other matters that affect accounting standard setting. The new members will serve a one-year term beginning January 1, 2015, and are eligible to be reappointed for three additional one-year terms. The following new FASAC members were appointed: Douglas Oare, Managing Director, BlackRock; Lee Sotos, Senior Analyst, Fidelity International; Maya McReynolds, Vice President and Chief Accounting Officer, Dell Inc.; Sean Miller, Vice President-Technical Accounting, Sony Pictures Entertainment; Gregg Nelson, Vice President-Accounting Policy & Financial Reporting, IBM Corp.; Sharon Virag, Vice President and Chief Accounting Officer, AES Corp.

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

Financial Accounting Foundation 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. Ms. Crotty will be based in Norwalk. She joins the FAF team from Bank of America, where she was a managing director and, for the past four years, leader of the Corporate Compliance and Regulatory Relations groups. Prior to that, Ms. Crotty held a variety of roles, including global compliance risk chief operating officer and business support executive in Global Markets and Global Research.

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