Why Your Church Should Hire a CPA Firm| |
One of the best way's for your church to retain the trust of the community is to hire an independent CPA Firm to audit your books, provide a system for internal controls and retain compliance with generally accepted accounting practices.
Here are a few reasons why your church and/or faith-based ministry should hire a CPA to oversee your financial situation.
- Internal Controls – CPA Firms that are accustomed to working with churches and ministries will help you institute better controls on the inflow and outflow of funds and protect against fraud. A periodic review of your internal processes will dramatically reduce the risk of fraud and mismanagement of funds.
- Improves financing options – A periodic audit or review dramatically increases the probability of obtaining a loan. In fact, it's often a requirement for obtaining a loan. In the long run, having an annual audit will save your church money should you ever need to borrow money.
- Better decisions – The Board will be in a better position to make the best business decisions if the financial statements are based on generally accepted accounting principles (GAAP).
When most of us are sick, we go to a doctor. And when a legal issue arises, we consult with an attorney. The same principal applies to accounting and tax matters, you should contact a CPA Firm that specializes in accounting for faith-based organizations. And while the average church or faith-based organization can't outsource most of the accounting function, they can work with a CPA Firm for the aspects that are most important and critical.
Regardless of size, your church or ministry handles someone else's money and should be transparent on how it is used. Below are several CPA Firms that specialize in church accounting and work with faith-based organizations.
CPA Accountants for Churches and Faith-Based Schools – Gatlin CPA Firm works with churches, religious groups, parochial schools and faith-based colleges throughout the Midwest. The founder has spoken to entire congregations and church boards over the decades and is from a faith based family.
CPA Accounting for Churches and Pastors – Curtis Johnson CPA works with churches, religious groups and pastors throughout the southeast.