GFOA established the Canadian Award for Excellence in Financial Reporting Program (CAnFR Program) in 1986 to encourage and assist Canadian local governments to go beyond the minimum requirements of generally accepted accounting principles, as set by the Public Sector Accounting Board of the Canadian Institute of Chartered Accountants, to prepare comprehensive annual financial reports that evidence the spirit of transparency and full disclosure and then to recognize individual governments that succeed in achieving that goal.
Submitting an Application
How to Submit an Application
We recognize that COVID-19 is disrupting normal government operations and may affect members’ ability to submit timely applications for GFOA’s award programs. We will approve extensions of the submission deadlines for those that need more time. Please submit the extension request form so we can record your extension in our system.
Request an Extension
Reports submitted to the CAnFR program are reviewed by selected members of the GFOA professional staff and a review committee, which comprises individuals with expertise in Canadian public-sector financial reporting and includes financial statement preparers, independent auditors, academics, and other finance professionals.
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.