GASB Proposes Change to Name of Annual Financial Report

The GASB has issued an exposure draft (ED), The Annual Comprehensive Financial Report. The ED proposes changing the name of the GASB’s annual financial report from “comprehensive annual financial report” to “annual comprehensive financial report.” The name change is being proposed “in response to concerns raised by stakeholders that the common pronunciation of the acronym for comprehensive annual financial report sounds like a profoundly objectionable racial slur.” Comments on the ED are due by July 9, 2021.

For more information, see the press release on the GASB’s Web site.