GFOA Policy re: Proper Referencing of the Comprehensive Annual Financial Report

Tuesday, March 9, 2021 in Press

GFOA Policy re: Proper Referencing of the Comprehensive Annual Financial Report

The Government Finance Officers Association (GFOA) is asking all industry affiliates to immediately stop using the common four-letter acronym most often associated with the Comprehensive Annual Financial Report. Instead, GFOA recommends referring to the report by either the full name or by using a shortened format that does not include the four-letter acronym. For instance, the “Annual Report” would be acceptable, the four-letter acronym even pronounced by saying each letter individually would still not be acceptable.

This policy change is the result of a new and evolving industry understanding that the acronym, when pronounced aloud, mimics the pronunciation of a deeply derogatory term often used in other parts of the world but readily recognized among certain populations in the United States as well.

This policy statement was approved by GFOA's Executive Board on March 5, 2021, is effective immediately, and will be voted on by GFOA membership at the annual business meeting in July 2021.

To read the GFOA Policy Statement in its entirety, GFOA Policy re Proper Referencing of the Comprehensive Annual Financial Report .


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