Audits

Hopefully you have a trusted Finance team overseeing your contributions and finances. However, even the most honest workers need checks and balances. Do regular audits and reviews to help keep your team accountable and guard against fraud.

9 Essentials of Avoiding Church Fraud

October 11th, 2019|Comments Off on 9 Essentials of Avoiding Church Fraud

In this video, Michael Martin gives practical and tactical advice on how to avoid fraud. Michael is the Executive Vice President of the Evangelical Council for Financial Accountability. How prevalent is fraud? LifeWay Research [...]

Tools for Averting Predators—Preventing and Discovering Fraud

October 7th, 2019|Comments Off on Tools for Averting Predators—Preventing and Discovering Fraud

These tools are provided by The Evangelical Council for Financial Accountability. With its mission of Enhancing Trust, ECFA now certifies nearly 2,300 Christ-centered churches and ministries based on its high standards in financial management, [...]

How to Get the Most Out of Your Church Ratio Analysis

October 4th, 2019|Comments Off on How to Get the Most Out of Your Church Ratio Analysis

Effective financial ratios can give your church vital insight into your financial condition and trends. But once you’ve gathered all the data necessary to prepare a ratio analysis and complete your reports, what’s the [...]

First Person Report on an Internal Control Audit

August 5th, 2019|Comments Off on First Person Report on an Internal Control Audit

This article is by a student in XPastor's Course MS-203, XP Boot Camp. To preserve confidentiality, the author will be listed as anonymous. One of the assignments for those taking the class for certification was: [...]

ASU 2016-14 and Churches: Four Key Questions Church Financial Leaders Should Ask to Understand the New Liquidity Disclosures 

March 1st, 2019|Comments Off on ASU 2016-14 and Churches: Four Key Questions Church Financial Leaders Should Ask to Understand the New Liquidity Disclosures 

Recent nonprofit financial reporting standards updates will result in several changes to external financial statements that church financial leaders should understand. Financial Accounting Standards Board (FASB) Accounting Standards Update (ASU) 2016-14 is intended to [...]

Qualitative Liquidity and Availability Disclosure Considerations for Churches in ASU 2016-14, Part 2 of 2

October 24th, 2018|Comments Off on Qualitative Liquidity and Availability Disclosure Considerations for Churches in ASU 2016-14, Part 2 of 2

Among the many nonprofit financial reporting standards changes in Financial Accounting Standards Board (FASB) Accounting Standards Update (ASU) 2016-14, one of particular importance to churches is the new liquidity and availability disclosure. The ASU [...]