Church Auditing Department Report, 2021
Open talk in Gospel LibraryContents
Before Reading
Before reading or listening to the talk, consider the following questions:
- What is the role of the Church Auditing Department?
- Who authorizes the expenditure of Church funds?
- What principles does the Church follow in terms of budgeting and expenditure?
- What was the conclusion of the Church Auditing Department regarding the Church's financial practices in 2021?
Topics
Understanding the Role of the Church Auditing Department
The Church Auditing Department, composed of credentialed professionals, is tasked with performing audits to ensure the proper receipt and expenditure of contributions, as well as the safeguarding of Church assets. This department operates independently from other Church departments and entities.
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 purpose of the Church Auditing Department?
- Why is it important for the Church Auditing Department to be independent from other Church departments and entities?
- How does the role of the Church Auditing Department contribute to the Church's transparency and accountability?
- How can you apply the principle of independent auditing in your personal or family finances?
Following Approved Budgets, Policies, and Procedures
The Church strictly adheres to approved budgets, policies, and procedures in disbursing its funds. This is authorized by the Council on the Disposition of the Tithes, which is composed of the First Presidency, the Quorum of the Twelve Apostles, and the Presiding Bishopric.
Church entities disburse funds in accordance with approved budgets, policies, and procedures.
- Who authorizes the expenditure of Church funds?
- Why is it important for Church entities to follow approved budgets, policies, and procedures?
- How can you apply the principle of adhering to a budget in your personal life?
- Why is it important to follow financial policies and procedures in your personal or family finances?
Living Within a Budget, Avoiding Debt, and Saving for a Time of Need
The Church practices the principles it teaches its members, which include living within a budget, avoiding debt, and saving for a time of need. These principles guide the Church's financial practices.
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 teach its members?
- Why are these principles important in managing Church funds?
- How can you apply the principles of living within a budget, avoiding debt, and saving for a time of need in your personal life?
- What steps can you take to better live within a budget, avoid debt, and save for future needs?
Assurance of Proper Recording and Administration of Church Assets
The Church Auditing Department assures that all contributions received, expenditures made, and assets of the Church have been properly recorded and administered in accordance with Church-approved budgets, accounting practices, and policies.
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 2021 have been recorded and administered in accordance with Church-approved budgets, accounting practices, and policies.
- What does the Church Auditing Department's report indicate about the Church's financial practices?
- Why is it important for the Church to properly record and administer its contributions, expenditures, and assets?
- How does the Church's careful recording and administration of its assets impact your faith and trust in the Church?
- How can you apply the principle of proper recording and administration of assets in your personal or family finances?
