Church Auditing Department Report, 2024
Jared B. Larson, Managing Director, Church Auditing Department
Managing Director Larson reports the Church's finances were managed according to approved practices.
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Ensure Financial Stewardship
The Church Auditing Department is tasked with ensuring that all financial activities align with approved budgets and policies, reflecting the Church's commitment to financial stewardship.
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.Key Points:
- The Council on the Disposition of the Tithes authorizes Church fund expenditures.
- Church Auditing is independent and consists of credentialed professionals.
- Audits provide reasonable assurance regarding financial activities.
- Reflect on a time when you've had to manage a budget either personally or professionally. How did you ensure you stayed within your means?
- Consider an experience where transparency in financial dealings was crucial. How did it impact trust and outcomes?
- Think about a time when you had to safeguard resources, whether financial or otherwise. What measures did you take?
Promote Transparency and Accountability
The report underscores the importance of transparency and accountability in the management of Church funds, ensuring that all expenditures and contributions are handled responsibly.
Church entities disburse funds in accordance with approved budgets, policies, and procedures.Key Points:
- Church funds are disbursed according to approved procedures.
- The auditing process provides transparency in financial dealings.
- Accountability is maintained through independent audits.
- Share a personal experience where being accountable led to a positive outcome.
- Discuss a situation where transparency in your actions built trust with others.
- Reflect on how you ensure accountability in your personal or professional life.
Uphold Doctrinal Directives
The financial practices of the Church are guided by revelation and doctrinal directives, as outlined in the Doctrine and Covenants, ensuring alignment with the Church's spiritual mission.
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.Key Points:
- Financial decisions are guided by revelation and doctrinal directives.
- The Council on the Disposition of the Tithes plays a crucial role in financial oversight.
- Church financial practices align with its spiritual mission.
- Think of a time when following spiritual guidance influenced your financial decisions.
- Consider how doctrinal teachings have impacted your approach to financial stewardship.
- Reflect on how you align your financial practices with your spiritual values.
Adopt Prudent Financial Practices
The Church emphasizes living within a budget, avoiding debt, and saving for times of need, mirroring the financial principles taught to its members.
The Church follows the practices taught to its members of living within a budget, avoiding debt, and saving against a time of need.Key Points:
- The Church practices prudent financial management.
- Members are encouraged to live within their means and avoid debt.
- Saving for future needs is a key financial principle.
- Share a personal experience where living within a budget made a significant difference in your life.
- Discuss how avoiding debt has impacted your financial well-being.
- Reflect on the importance of saving for future needs and how you have implemented this in your life.
Maintain Independence in Auditing
The Church Auditing Department operates independently from other Church departments to ensure unbiased and accurate financial audits.
Church Auditing, which consists of credentialed professionals and is independent of all other Church departments and entities, has responsibility to perform audits.Key Points:
- Independence is crucial for unbiased financial audits.
- The auditing team is composed of credentialed professionals.
- Independent audits provide reasonable assurance of financial accuracy.
- Reflect on a situation where independence in decision-making was important.
- Consider how having an independent perspective has benefited a project or task you were involved in.
- Think about a time when you relied on expert advice to ensure accuracy and fairness in a decision.
