NEWS RELEASE 08/05/10

FAF, FASB, and GASB Join Twitter® to Enhance Communication with Constituents

Norwalk, CT, August 5, 2010—The Financial Accounting Foundation (FAF) today announced it has joined the social media network Twitter to enhance and expand its communication outreach with constituents. The organizations for which the FAF has oversight, the Financial Accounting Standards Board (FASB) and the Governmental Accounting Standards Board (GASB) will also be included in the new outreach via Twitter.

“We are always looking for ways to expand and enhance our outreach to constituents of the FAF, the FASB, and the GASB,” said Teresa S. Polley, president of the FAF. “Social media outlets such as Twitter allow us to have a real-time connection with our stakeholders. As these outlets evolve, we will remain committed to using these tools to expand our interaction and outreach.”

Twitter enables users to follow activities and important news about an organization on a real-time basis. Constituents interested in following important news and information about the FAF, the FASB, and the GASB via Twitter can enroll at www.fasb.org. Just click on the Twitter logo on the bottom left of the home page.

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 government, the Governmental Accounting Standards Board. The FAF also is responsible for selecting the members of both Boards and their respective Advisory Councils.