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 [...]

Liquidity and Availability Disclosure Considerations for Churches in ASU 2016-14, Part 1 of 2

October 24th, 2018|Comments Off on Liquidity and Availability Disclosure Considerations for Churches in ASU 2016-14, Part 1 of 2

All churches that issue external financial statements (complete with footnote disclosures) for fiscal years beginning after December 15, 2017 (calendar year 2018 and fiscal years ending in 2019) are subject to the new nonprofit [...]

Weekly Report Spreadsheet for Church Income

May 24th, 2018|Comments Off on Weekly Report Spreadsheet for Church Income

A weekly financial reporting spreadsheet should contain a church's actual income and the budget forecast. The following numbers are from WheatFields Good News Church. This is a compiled case study church, as no church [...]

Audit and Review Infographic

October 7th, 2017|Comments Off on Audit and Review Infographic

When was your last church audit? What process do you use for both your internal and external audits? Regular audits help your church identify strengths, weaknesses, opportunities and threats. A proper audit schedule also [...]

What I Learned from a Certified Fraud Examiner

August 28th, 2017|Comments Off on What I Learned from a Certified Fraud Examiner

We’ve all seen the tragic headlines about churches becoming the victims of fraud. To borrow some real-life examples: “Father and Son Pastors Plead Guilty to Stealing $3.1M from Church,” “Nebraska Archdiocese Sues Nun Accused of [...]