NORWALK, Conn.--(BUSINESS WIRE)--The Financial Accounting Foundation (FAF), the organization that oversees the Financial Accounting Standards Board (FASB) and the Governmental Accounting Standards Board (GASB), today issued the following statement on the confirmation of the Hon. Mary Jo White as the new chairman of the Securities and Exchange Commission. The statement should be attributed to FAF President and Chief Executive Officer Teresa S. Polley.
“The Financial Accounting Foundation and its standard-setting Boards, the Financial Accounting Standards Board and the Governmental Accounting Standards Board, extend their congratulations to the Hon. Mary Jo White on her confirmation by the U.S. Senate as chairman of the Securities and Exchange Commission.
“The FAF appreciates and applauds Chairman White’s strong commitment to the Commission’s mission to promote relevant, reliable, consistent, and comparable accounting financial and reporting standards that enable investors to make well-informed investment decisions and that contribute to the efficiency of our capital markets. We at the FAF, the FASB, and the GASB stand ready to assist her in achieving her goals.”
About the Financial Accounting Foundation
The FAF is responsible for the oversight, administration, and finances of both the Financial Accounting Standards Board and its counterpart for state and local governments, the Governmental Accounting Standards Board. The FAF also is responsible for selecting the members of both Boards and their respective Advisory Councils. For more information about the FAF, visit www.accountingfoundation.org.