Who is primarily responsible for signing the letter of transmittal in a CAFR?

The Chief Financial Officer (CFO) is primarily responsible for signing the letter of transmittal in a Comprehensive Annual Financial Report (CAFR). The letter of transmittal serves as an introduction to the CAFR and provides context regarding the financial statements presented within the report. It typically includes information about the reporting entity, economic outlook, and a summary of significant financial developments.

The role of the CFO is crucial because they oversee the financial operations of the entity, ensuring that financial reporting adheres to applicable standards and regulations. They are accountable for the integrity and accuracy of the financial statements presented in the CAFR, making their signature on the letter of transmittal a reflection of this accountability.

While other executives, such as the CEO, may be involved in the financial operations and overall reporting process, the primary responsibility for the financial report and its transmittal letter lies with the CFO. This distinguishes their role and emphasizes the importance of their oversight in financial matters.