The Church Audit Committee Report
May 1993

“The Church Audit Committee Report,” Ensign, May 1993, 22

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 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 1992.

Expenditures of Church funds for the year were authorized by the Council on the Disposition of the Tithes, composed of the First Presidency, the Council of the Twelve, and the Presiding Bishopric, as prescribed under revelation. The Appropriation and Budget committees 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 internal auditors of the Church or independent professional auditing firms. 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 the 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 ending 31 December 1992 have been controlled and accounted for in accordance with established Church policy and procedures.

Respectfully submitted,


David M. Kennedy

Ted E. Davis

Donald D. Salmon

James B. Jacobson