Editing Financial Accounting Standards Board (section)

=== Oversight ===
The FASB is subject to oversight by the Financial Accounting Foundation (FAF), which selects the members of the FASB and the [[Governmental Accounting Standards Board]] and funds both organizations.<ref>{{cite web |title=Overview |url=http://www.fasb.org/faf/faf_info.shtml |website=www.fasb.org |access-date=16 July 2018}}</ref> The Board of Trustees of the FAF is selected by a nomination process that involves several organizations from investing, accounting, business, financial, and governmental sectors, but are ultimately selected by the existing Board. The selection process was amended as such in 2008 to reduce private sector influence on the Board of Trustees and its oversight of the FASB and GASB.<ref>{{cite news |title=FASB trustees approve major structural changes |url=https://www.iasplus.com/en/news/2008/February/news3974?id=en:rss:direct |website=www.iasplus.com |access-date=16 July 2018 |language=en}}</ref><ref name="Polley">{{cite web |last1=Polley |first1=Terry |title=From the President's Desk - Independence Day Special Issue |url=https://accountingfoundation.org/jsp/Foundation/Page/FAFSectionPage&cid=1176160620987 |website=accountingfoundation.org |access-date=16 July 2018}}</ref>