Church Auditing Department Report, 2020

Understanding the Role of the Church Auditing Department

The Church Auditing Department consists of professional auditors who are independent of all other Church departments. Their role is to conduct audits to provide reasonable assurance on the receipt and expenditure of contributions, as well as the safeguarding of Church assets.

Church Auditing, which consists of credentialed professionals and is independent of all other Church departments and entities, has responsibility to perform audits for the purpose of providing reasonable assurance regarding contributions received, expenditures made, and safeguarding of Church assets.

• What is the role of the Church Auditing Department in the Church's financial management?
• How does the independence of the Church Auditing Department contribute to its role?
• How can you apply the principles of financial accountability and transparency demonstrated by the Church Auditing Department in your personal life?
• Why is it important to have an independent body like the Church Auditing Department in financial matters?

Examining the Management and Expenditure of Church Funds

The Council on the Disposition of the Tithes, made up of the First Presidency, the Quorum of the Twelve Apostles, and the Presiding Bishopric, authorizes the expenditure of Church funds. These funds are disbursed in accordance with approved budgets, policies, and procedures.

Directed by revelation, as recorded in section 120 of the Doctrine and Covenants, the Council on the Disposition of the Tithes—composed of the First Presidency, the Quorum of the Twelve Apostles, and the Presiding Bishopric—authorizes the expenditure of Church funds.

Church entities disburse funds in accordance with approved budgets, policies, and procedures.

• Who authorizes the expenditure of Church funds?
• How are Church funds disbursed?
• How can the Church's method of managing and spending funds influence your own budgeting and spending habits?
• What lessons can you learn from the way the Church handles its funds?

Following the Church's Financial Principles

The Church adheres to the financial principles it teaches its members. This includes living within a budget, avoiding debt, and saving for times of need.

The Church follows the practices taught to its members of living within a budget, avoiding debt, and saving against a time of need.

• What financial principles does the Church follow?
• How does the Church demonstrate these principles in its own financial management?
• How can you apply the Church's financial principles in your life?
• What steps can you take to live within a budget, avoid debt, and save for times of need?

Providing Assurance through Auditing

The Church Auditing Department provides assurance that the Church's contributions, expenditures, and assets have been recorded and administered properly. They confirm that all these are in accordance with approved Church budgets, policies, and accounting practices.

Based upon audits performed, Church Auditing is of the opinion that, in all material respects, contributions received, expenditures made, and assets of the Church for the year 2020 have been recorded and administered in accordance with approved Church budgets, policies, and accounting practices.

• What assurance does the Church Auditing Department provide?
• Why is it important for the Church to have its financial activities audited?
• How does the Church Auditing Department's assurance affect your trust in the Church's financial management?
• Why is it important to have financial accountability in your personal life?