The FASB comprises seven full-time board members that are appointed by the FAF Board of Trustees. Members may serve up to two five-year terms. A professional staff of more than 60 people supports the FASB. Board members and staff are focused on the needs of investors, other capital markets participants, and the public interest when it comes to financial accounting and reporting. They all possess a background in investing, accounting, finance, education and research. To maintain their independence, members and staff must abide by restrictions on personal investments and other activities in order to avert potential conflicts of interest.