Church Auditing Department Report, 2024
Open talk in Gospel LibraryContents
Before Reading
Before reading or listening to the talk, consider the following questions:
- What is the role of the Council on the Disposition of the Tithes?
- How does the Church Auditing Department ensure financial accountability?
- What principles does the Church follow in managing its finances?
Topics
Ensure Financial Accountability
The Church Auditing Department, composed of credentialed professionals, is tasked with performing audits to ensure the financial integrity of the Church. Their audits provide reasonable assurance that contributions, expenditures, and assets are managed according to Church-approved guidelines.
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?
- How does the Church Auditing Department maintain its independence?
- How can you apply the principle of financial accountability in your personal life?
- What steps can you take to ensure transparency and accountability in your financial dealings?
Follow Budgetary Principles
The Church adheres to budgetary principles similar to those taught to its members, such as living within a budget, avoiding debt, and saving for future needs. This disciplined approach ensures that Church funds are used wisely and responsibly.
The Church follows the practices taught to its members of living within a budget, avoiding debt, and saving against a time of need.
- What budgetary principles does the Church follow?
- Why is it important for the Church to adhere to these principles?
- How can you implement budgetary principles in your own financial management?
- Reflect on a time when living within a budget helped you in a challenging situation.
Authorize Expenditure of Church Funds
The Council on the Disposition of the Tithes, comprised of the First Presidency, the Quorum of the Twelve Apostles, and the Presiding Bishopric, is responsible for authorizing the use of Church funds. This council ensures that expenditures align with the Church's mission and priorities.
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.
- Who comprises the Council on the Disposition of the Tithes?
- What is the role of this council in managing Church funds?
- Consider how you prioritize expenditures in your life. What principles guide your decisions?
- How does understanding the process of authorizing Church funds strengthen your testimony of Church leadership?
Adhere to Approved Budgets and Policies
The Church entities disburse funds in accordance with approved budgets, policies, and procedures. This adherence ensures that all financial activities are aligned with the Church's established guidelines and objectives.
Church entities disburse funds in accordance with approved budgets, policies, and procedures.
- Why is it important for Church entities to follow approved budgets and policies?
- How does adherence to these guidelines benefit the Church and its members?
- Reflect on how following guidelines and policies has helped you achieve goals in your life.
- What steps can you take to ensure you are adhering to personal or organizational guidelines?
Provide Assurance of Financial Stewardship
The audits performed by the Church Auditing Department provide assurance that the Church's financial activities are conducted with integrity and transparency. This assurance helps maintain trust among Church members and leaders.
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 2024 have been recorded and administered in accordance with Church-approved budgets, accounting practices, and policies.
- What assurance does the Church Auditing Department provide to Church members?
- How does financial stewardship affect the trust of Church members?
- How can you ensure that your financial activities are transparent and trustworthy?
- What can you do to build trust in your personal and professional relationships regarding financial matters?
