Canadian Award for Excellence in Financial Reporting Program (CAnFR Program)

Judging Process

Each report is reviewed using a checklist designed to determine compliance with both generally accepted accounting principles (GAAP), as set by the Public Sector Accounting Board of the Canadian Institute of Chartered Accountants, and program policy. Reviews are performed by GFOA staff and selected reviewers from government, the public accounting profession, and academe who possess specialized expertise in governmental financial reporting, typically as a result of either preparing or auditing a report that has received the award. An award is granted only if there is consensus among reviewers that a report substantially complies with both GAAP and program policy.