Certificate Program: COMMON REPORTING DEFICIENCIES

GAAFR Review, December, 2007 by Gauthier, Stephen J

This past year, reviewers and staff of the Government Finance Officers Association (GFOA) reviewed more than 3,600 comprehensive annual financial reports (CAFRs) submitted to the GFOA's Certificate of Achievement for Excellence in Financial Reporting Program (Certificate Program). This article will highlight some of the more common deficiencies that reviewers noted while performing those reviews.

MD&A: budgetary analysis

The Governmental Accounting Standards Board's (GASB) Statement No. 34, Basic Financial Statements-and Management's Discussion and Analysis-for State and Local Governments, paragraph 11e, directs that management's discussion and analysis (MD&A) include "an analysis of significant variations between original and final budget amounts and between...

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