Voluntary Sector Reporting Awards
Awards Program Overview
Accountability and transparency are of growing importance in the not-for-profit sector. They allow donors to make informed decisions about where they give, they help keep staff and volunteers motivated, they let directors demonstrate their organization's integrity, and they build confidence among an often cynical public. The Voluntary Sector Reporting Awards (VSRAs) give not-for-profit organizations a valuable opportunity to prove that they take the issue of high quality reporting seriously.
The VSRAs were created in 2008 by the CA-Queen's Centre for Governance, which is a partnership between the Queen's School of Business and the Institute of Chartered Accountants of Ontario. PwC has been a sponsor of the program since its inception. Financial awards will be given for annual reports which demonstrate the highest levels of accountability and transparency, and which communicate effectively with beneficiaries, donors and stakeholders. The Awards are designed to recognize the quality of reporting in the not-for-profit sector and aim to:reward best practice in financial and non-financial disclosure;
- raise the standard of annual reports including the provision of higher quality financial information in those reports; and
- encourage more voluntary sector organizations to provide their reports and financial information online.
Awards are open to all registered charities excluding organizations whose principal activities are run by or for municipalities, universities, hospitals or school boards (i.e. the MUSH sector). Eligible organizations for the 2012 competition should be headquartered in Ontario. Divisions of national and international organizations that produce separate annual reports in Ontario are also eligible. Eligible organizations must have audited financial statements either included in the annual report or submitted with the report to complete the nomination.
Anyone can nominate an organization - management, board members, auditor, client or donor.
Award Categories and Prizes
Organizations will be entered into one of five categories:
- Nationally or internationally focused organizations headquartered in Ontario
- Total revenues over $10 million
- Total revenues from over $1 million to $10 million
- Total revenues less than $1 million
A $5,000 award for training and development will be granted to the entrant with the best annual report in each category.
All entrants will be invited to attend the Awards Luncheon. Award recipients and short-listed organizations will receive a certificate of commendation and judges' feedback.
Nominations are now closed for the 2012 Awards. Thank you to all those who submitted nominations.
Recipients will be announced at the Awards Luncheon, which will be held on February 15, 2013 in Toronto.
Additional information and resources
- Various publications and resources that demonstrate PwC’s commitment to this sector are available through the PricewaterhouseCoopers Canada Foundation
- Visit the Applying the Standards area of the CICA’s website for practical guidance on the application of accounting standards for not-for-profit organizations, as well as in respect of assurance standards relevant to the audit of not-for-profit organizations. Note that much of the guidance available for accounting for private enterprises may also be still relevant for these entities.
- Updates from the Accounting Standards Board and Auditing and Assurance Standards Boards are available on the Financial Reporting and Accounting Standards in Canada website.
- For examples of factors that contribute to excellent annual reports, see: