Who sponsors the Certificate of Achievement for Excellence in Financial Reporting?

The Certificate of Achievement for Excellence in Financial Reporting is sponsored by the Government Finance Officers Association (GFOA). This prestigious award recognizes excellence in financial reporting by state and local governments. The GFOA aims to promote good government through the dissemination of best practices and guidelines in financial management, which includes the establishment of standards for financial reporting that enhance transparency and accountability.

The award specifically honors those government entities that demonstrate a commitment to high-quality financial reporting practices. Recipients of this certificate have shown their dedication to preparing comprehensive annual financial reports (CAFRs) that meet the rigorous standards established by the GFOA, which contributes to increased public trust in government finances.

This recognition encourages governmental entities to pursue excellence in financial reporting and fosters a culture of accountability and transparency in public finance, making it a crucial initiative within the field of government finance.