The parties met to address Kerr's recent UK court case, where she was found not guilty on one charge of racially aggravated harassment of a police officer.
Kerr, who hasn't played since tearing her ACL during a Chelsea training camp in January last year, spoke of her "regret" for the incident with the FA board concluding that it warranted no further action.
"I want to express my sincere regret for how events unfolded," Kerr said in an FA statement.
"It was an incredibly difficult period for me, my family, my club, my teammates, and especially for the fans whose support means so much to us.
"I recognise that leadership means being mindful of our actions both on and off the pitch.
"I'm proud of the Matildas, the role I have played as a member of that team, and everything we stand for, and I'm committed to learning from this experience."
Football Australia chairman Anter Isaac said the incident shouldn't overshadow's Kerr's contribution to the game.
"Knowing how Sam (Kerr) feels about the events, along with the additional context we've learned, has added vital perspective that the general public may not be aware of," said Isaac.
"Setting aside those difficulties, this one incident should not offset the incredible contributions she has made, both publicly and privately, on and off the field – for more than 15 years."
As part of her return-to-play program, Kerr has now joined the Matildas training camp for the March/April FIFA women's international window (31 March - 8 April).
Granted leave by Chelsea, she will continue her rehabilitation under the supervision of the Matildas' performance support team.
Kerr has not yet been cleared for competitive football although the Matildas will be hopeful she's available to face Argentina in Melbourne on May 30 and Canberra on June 2.
