1990–1999
The Church Audit Committee Report
April 1992


The Church Audit Committee Report

To the First Presidency of The Church of Jesus Christ of Latter-day Saints:

The Audit Committee is independent of all Church officers, employees, and operations, and has access to all records relevant to the committee’s responsibility. We have reviewed the adequacy of controls over receipts and expenditures of funds and other procedures that safeguard the assets of the Church and its controlled organizations, including budgeting, accounting and auditing systems, and the related financial statements of the Church for the year ending 31 December 1991.

Expenditures of Church funds for the year were authorized by the Council of the Disposition of the Tithes, composed of the First Presidency, the Council of the Twelve, and the Presiding Bishopric, as prescribed under revelation. The Appropriations Committee and Budget Committee administer major expenditures within approved budgets.

The Auditing Department staff consists of certified public accountants and similarly qualified auditors and is independent of all other departments. It performs financial audits, operational audits, and audits of computer systems for all Church operations, worldwide. Incorporated businesses owned or controlled by the Church, for which accounts are not maintained in the Finance and Records Department, are audited by the Church’s internal auditors, independent professional auditing firms, or government regulatory agencies. Audits of local units are performed locally. Local audit procedures are established, and audit reports are reviewed by the Auditing Department.

Based on our review of financial and operating controls, and the audit reports and responses, we are of the opinion that the budgeting, accounting, auditing, and other control procedures have maintained adequate accountability for Church assets and obligations. In all material respects, all Church funds received and expended during the year ended 31 December 1991 have been controlled and accounted for in accordance with established Church policies and procedures.

Respectfully submitted,

CHURCH AUDIT COMMITTEE

David M. Kennedy

Merrill J. Bateman

Ted E. Davis