Our Services

Financial Audits:

A financial audit is the examination by an auditor, in accordance with generally accepted auditing standards, of the assertions of management as embodied in its financial statements, to enable the auditor either to express or to disclaim an opinion on the fairness with which the financial statements present the entity's financial position, results of operations, and cash flows in accordance with generally accepted accounting principles.

Reviews of Trust Operations:

A review of trust operations consists of an evaluation of an organization's compliance with trust accreditation standards and other fiduciary practices for the administration of the assets for which the organization has responsibility as a trustee, personal representative, attorney-in-fact, or in some other fiduciary capacity, and is also designed to make recommendations that will assist in the safeguarding against loss from unauthorized use or disposition and that will assist in ensuring that transactions are executed in accordance with appropriate authorizations and in conformity with the governing instruments, and are recorded properly to permit the preparation of the required financial, tax, and other reports.

Policy Compliance Testing:

A compliance test is the examination by an auditor of evidence to determine compliance with General Conference Working Policy, division working policy, and other denominational policies, if any, applicable to the client. The General Conference Executive Committee has identified core policies to be tested, established guidelines for evaluating materiality thresholds, defined agreed-upon procedures, and recommended the manner of reporting noncompliance with General Conference policies. Division executive committees are in the process of doing likewise for any additional policies established by the division. An entity's governing committee or board may require that other policies, in addition to the core policies, shall be included in the compliance tests. Compliance tests can be done in one of the following ways:

  1. By examining evidence for compliance with the core policies encountered in the course of the financial audit. The auditor will give negative assurance (no non-compliance with policy came to the attention of the auditor), issue a qualified report, or state that it is not possible to report, on the organization's compliance with policy.
  2. By performing agreed-upon procedures on all the core policies. An organization whose governing board/committee wishes to have agreed-upon procedures applied to only selected items on the list of core policies is still reviewed under the negative assurance provisions of paragraph a. above. The auditor will report on the findings from applying the prescribed procedures, and where applicable, a report under paragraph a. above.
  3. By performing an examination engagement in accordance with generally accepted attestation standards on, at a minimum, the core policies designated by the General Conference Executive Committee. The governing committee/board of each client organization may add to the core policies to meet specific circumstances and situations. If an organization's governing board/committee wishes to have examination engagement procedures applied to only selected items on the list of core policies, the organization will still be reviewed under the negative assurance provisions of paragraph a. above. The auditor will provide an opinion on the organization's compliance with the core policies under consideration, and where applicable, a report under paragraph a. above.
  4. By performing, as per prior arrangement with the governing committee or board, a combination of the three levels described above.