[LCFinance] {Disarmed} RE: LCFinance Digest, Vol 4, Issue 2

[Christine Dodson]

The Local Church Audit Guide prepared by GCFA says that "we recommend
that churches with annual receipts in excess of about $300,000 to
$400,000 seriously consider engaging an outside audit firm to perform an
audit.  This is a recommendation and is not binding, but it seems to us
to be prudent stewardship since more complexity is involved as receipts
and expenditures become larger."

 

Christine

________________________________

From: lcfinance-bounces at listserv.nccumc.org
[mailto:lcfinance-bounces at listserv.nccumc.org] On Behalf Of Sheila Ahler
Sent: Tuesday, February 19, 2008 2:41 PM
To: Local Church Finance Committee and Treasurers
Subject: [LCFinance] {Disarmed} RE: LCFinance Digest, Vol 4, Issue 2

 

There is no set amount.  We are almost at a $2 million budget....am
certain that is large enough to need a full-scope audit.  Generally, if
you have debt, your lender may require an audit, but otherwise no
requirement other than just good sound business practice.

 

Sheila

 

________________________________

From: lcfinance-bounces at listserv.nccumc.org
[mailto:lcfinance-bounces at listserv.nccumc.org] On Behalf Of
LBHOBGOOD at aol.com
Sent: Monday, February 18, 2008 7:00 PM
To: lcfinance at listserv.nccumc.org
Subject: Re: [LCFinance] LCFinance Digest, Vol 4, Issue 2

Just curious, what is considered a "large" church and would therefore
need an audit or review?

 

Lynn

 





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