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HANDBOOK for the Church Financial Review CommitteePrepared by Foothills Presbytery June 2009 Revised February 7, 2017DISCLAIMERFoothills Presbytery is not responsible for the conduct of local church
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Financial review or audit is a process of evaluating and examining an organization's financial statements and records to ensure accuracy, transparency, and compliance with regulations.
Certain organizations, such as publicly traded companies, non-profit organizations receiving federal funding, and some government agencies, are required to file financial reviews or audits.
Financial reviews or audits are typically conducted by independent auditors who review the organization's financial statements, records, and internal controls to provide an opinion on the accuracy and completeness of the financial information.
The purpose of a financial review or audit is to ensure the reliability of an organization's financial information, identify any potential fraud or errors, and provide stakeholders with assurance about the organization's financial health.
Financial reviews or audits typically include information such as balance sheets, income statements, cash flow statements, and footnotes to the financial statements.
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