The FSA was formed in 1978 to provide the impetus for the development of professional schools of accountancy much like medicine and law. FSA has a unique audience of accredited graduate accounting programs.

FSA sponsors two significant events during the years—the faculty consortium and the joint FSA-APLG meeting, both of which are very well attended. FSA provides four major awards per year with the student awards having the most recognition. There are occasional comment letters and/ or white papers written by FSA.