From Errors to Excellence: Correcting Common ACFR Deficiencies
GFOA members strive to meet a high standard for comprehensive and timely financial reporting, and overall, they do exceptionally well. GFOA's awards programs recognize almost 5,000 different governments for their achievements. However, no one is perfect and GFOA tracks common deficiencies that are noted in the annual comprehensive financial reports submitted to the Certificate of Achievement (COA) program.
This session will highlight common areas for improvement, criteria with higher rates of nonconformance, and "asterisk" items that may prevent an organization from receiving an award.
Learning Objectives
Discuss the most common errors identified in the COA program.
Identify presentation and display requirements for restatements and adjustments.
Understand the impact of asterisk items in the COA program.